Protocol signed on construction of railroad gage to Port of Smederevo - first phase costs €4m

Intensive preparations for start of construction of industrial railroad gage to new Port of Smederevo are underway. The Protocol has been signed by the Minister of Capital Investments in the Government of Serbia ,Velimir Ilić, mayor of Smederevo, dr Jasna Avramović, general director of CIP Institute, Milutin Ignjatović, and general director of Railways of Serbia, Milanko Šarančić.

The first phase of the construction will cost nearly €4m. Republic Ministry of Capital Investments provides 75%, whereas local self-management will give 25% of total amount. This project is also significant because, once it is carried out, it will enable undisturbed transportation of raw materials from new Port to the units of "US Steel Srbija", which plans to increase production in 2005 by almost 100%.