railway reconstruction

Serbia’s railway reconstruction project sees significant cost increase: From initial estimate to final agreement

A new set of documents published by the Serbian government, following the report from the Expert Group of the University of Belgrade, includes a draft conceptual design for the reconstruction of the railway from Novi Sad to the Hungarian border. The draft, created by the CIP Institute in November 2017, provided an initial estimate for the project’s cost. At that time, the project designers estimated that modernizing the railway would require an investment of 681.4 million euros. Comparing this amount…