Serbia is financing new rolling stock for international passenger services as railway investment increasingly moves beyond infrastructure toward cross-border operations. European rail financier EUROFIMA has provided €12 million in 10-year financing to passenger operator Srbijavoz. The financing is the first tranche supporting the purchase of six Siemens Vectron A17 multi-system electric locomotives.
The locomotives are certified for use in Serbia, Hungary, Austria and Germany, enabling Serbian passenger trains to operate across several national rail systems without locomotive changes at borders. Each locomotive has 6.4 MW of power, a maximum speed of 200 km/h and ETCS Level 2 signalling equipment. The Siemens procurement has a total value of approximately €35.35 million, with deliveries scheduled for June and July 2027.
New rolling stock for international corridors
The locomotive purchase adds equipment needed to make Serbia’s upgraded railway infrastructure operationally usable for longer international passenger services. Over the past decade, Serbia has invested substantially in its railway network, including the north-south corridor connecting Belgrade, Novi Sad, Subotica and Hungary.
Modernised tracks, however, require rolling stock capable of operating across different national electrical systems, signalling arrangements and certification frameworks. Without compatible locomotives, international trains can still require equipment changes at borders, adding operational complexity and travel time. The multi-system Vectron locomotives address that requirement through their certification across four countries. Srbijavoz is expected initially to use the new units on international services toward Budapest, connecting the fleet investment with the broader Belgrade-Budapest railway development.
Replacement of older locomotives
The procurement also targets the age and operating limitations of Srbijavoz’s existing fleet. Some of the operator’s locomotives are more than 40 years old, contributing to higher maintenance requirements and constraints on reliability and interoperability.
The new Siemens units are intended to reduce those operational limitations while providing improved energy efficiency and greater predictability for maintenance. These factors are particularly relevant to international services, where technical failures and operating restrictions can affect the reliability of passenger connections. The EUROFIMA financing provides a long-term funding structure for the rolling-stock investment, reducing reliance on direct state spending or conventional commercial bank borrowing. The arrangement also establishes a potential financing model for additional fleet renewal.
Infrastructure investment moves toward passenger operations
The expansion of international rail services will depend on more than locomotive capacity. Border procedures, timetables, ticketing integration, station quality, service reliability and connections with other European operators will also influence the use of international passenger trains. The six locomotives address the traction requirement, removing a technical limitation as Serbia’s railway infrastructure becomes increasingly compatible with European standards.
The investment adds a new element to Serbia’s railway modernisation programme, which has traditionally focused on reconstructed track and higher operating speeds. With the new fleet, the programme also extends to the equipment required for Serbian trains to operate directly across international corridors.
