Share

China signs Balkan bullet train deal

Belgrade - China signed a huge deal on Wednesday to finance a high-speed bullet train between Budapest and Belgrade, a key link in Beijing's expanding network for getting its goods to European markets.

"This will put in place a corridor between China and Europe," Chinese Prime Minister Li Keqiang told reporters after signing the deal in Belgrade, estimated by local media to be worth about $1.9bn.

"Development of this railway line will contribute to both Hungary and Serbia," he added.

Li said he was confident the project - whose cost has not been officially confirmed - would be completed within the next two years.

Funnel exports

The signing was the centrepiece of a summit in Belgrade with 16 central and eastern European leaders designed to cement Beijing's plans for new transport links to funnel exports into Europe.

China hopes to turn the Greek port of Piraeus - where the Chinese shipping giant Cosco has a 35-year concession to hugely expand its two container terminals - into a new hub for trade with the continent.

Infrastructure and transport were top of the agenda at the two-day talks, which also discussed wider Chinese trade and investment in the region.


We live in a world where facts and fiction get blurred
Who we choose to trust can have a profound impact on our lives. Join thousands of devoted South Africans who look to News24 to bring them news they can trust every day. As we celebrate 25 years, become a News24 subscriber as we strive to keep you informed, inspired and empowered.
Join News24 today
heading
description
username
Show Comments ()
Rand - Dollar
18.91
+0.1%
Rand - Pound
23.87
+0.1%
Rand - Euro
20.38
+0.2%
Rand - Aus dollar
12.31
+0.2%
Rand - Yen
0.13
+0.1%
Platinum
908.05
+1.2%
Palladium
1,014.94
0.0%
Gold
2,232.75
-0.0%
Silver
24.95
-0.1%
Brent-ruolie
87.00
+1.8%
Top 40
68,346
0.0%
All Share
74,536
0.0%
Resource 10
57,251
0.0%
Industrial 25
103,936
0.0%
Financial 15
16,502
0.0%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Editorial feedback and complaints

Contact the public editor with feedback for our journalists, complaints, queries or suggestions about articles on News24.

LEARN MORE
Government tenders

Find public sector tender opportunities in South Africa here.

Government tenders
This portal provides access to information on all tenders made by all public sector organisations in all spheres of government.
Browse tenders