Macedonia will reconstruct the railroad tracks from Tabanovce to Gevgelija, part of Corridor 10 with a loan from the European Bank for Reconstruction and Development. The loan amounting to EUR 17.6 million was approved by the Bank’s Board of Directors on 6th July.
 
As announced by Vice Prime Minister and Minister of Finance, Zoran Stavreski and Minister of Transport and Communications Mile Janakievski at joint press conference, four sections of the railroad tracks, long 53 kilometers will be reconstructed.
 
As they said, this will contribute to improving the Rail Corridor 10, reducing the costs for its maintenance and ensuring safe traffic on these sections, as well as increasing the speed of trains by 30-40 kilometers per hour.
 
As Minister Janakievski pointed out, the following sections will be reconstructed: Tabanovce-Kumanovo – 13 km, Miravci – Smokvica – 13 km, Zgropolci (Nogaevci) – Gradsko – 9 km and Gradsko-Negotibo – 21 km.
 
Construction works will start in 2011, and they should be completed by 2013.
 
– At the moment, the speed of the trains at these sections is between 50 and 60 kilometers, and following the reconstruction it will reach up to 100 kilometers, Janakievski said.
 
According to Minister of Finance Stavreski, last overhaul of these sections, on which total of 230 million tones of goods were transported, was carried out for more than 40 years ago. The railroad tracks are also very important for the economic development since the majority, even 90 percents of the transport of goods is carried out through this Corridor.
 
Investment, as Stavreski said will present significant project for improving the infrastructure, as well as the competitiveness of the economy.
 
– Approval of this loan by EBRD again speaks in favour of the strong support extended by this international financial institution to the policies and the reforms being continuously implemented by the Government of the Republic of Macedonia, Minister of Finance said.
 
Repayment period of EBRD loan is 15 years, including three-year grace period and 2% interest rate.
At today’s press conference, Stavreski and Janakievski said that the Project for Construction of Railway Corridor 8 towards Bulgaria is also planned to be realized, construction of which is expected to continue next year, costs being estimated at EUR 400 million.
 
EBRD provided grant in the amount EUR 1,200,000 as technical assistance, for project implementation and supervision, EUR 500,000 out of which will be intended for preparation of feasibility study and environmental impact assessment study. Activities related to preparation of these studies should be completed by mid-2011, after which necessary financial resources will be provided. So far, EBRD and the European Investment Bank have shown interest in financing the project.(MIA)
