China will build high-speed railway line between the capitals of Hungary and Serbia

Almaty. November 26. Silkroadnews - One of the subsidiaries of Chinese companies China Railway Group received a contract for the construction of high-speed railway line between the capitals of Hungary and Serbia, reported Tass.
The project will cost 10 billion yuan (about US $1.57 billion).
The maximum speed of the trains on the new line will be 160 km/h and travel time between Budapest and Belgrade will be reduced to two and a half hours. Under the agreement, 166-kilometer-long Hungarian section of the existing railway line will be modernized, electrified and equipped with the necessary to ensure the safety of high-speed equipment. Also, project documentation envisages the laying of the second railway track.
It is reported that 85% of the funding will be provided by a Chinese consortium, the remaining funds will provide Hungary.
The agreement was signed in the Chinese city of Suzhou (Jiangsu East) summit between China and the countries of Central and Eastern Europe. The Premier Li Keqiang said that China will start the construction of high-speed railway line between Belgrade and Budapest by the end of the year. The completion will require 2 years.