Serbian Infrastructure Minister Zorana Mihajlovic signed a contract with China Railway International and China Communications Constructions Company for the overhaul of the Novi Sad-Subotica railway corridor that connects Belgrade and Budapest. The value of the deal is €943m, finalized after a year of negotiations. Work on modernizing the 108.1 km section in northern Serbia is scheduled to start in 2019. The project is expected to increase freight traffic from Belgrade and Budapest. The same Chinese companies are also overseeing work on the Belgrade-Stara Pazova section, which is part of Corridor X.
