The Board of Directors, together with the management, has taken another significant step towards modernising the rolling stock.
Montenegro Railways AD Podgorica has received a positive opinion from the Competition Protection Agency for the issuance of guarantees for a loan arrangement with the EBRD bank in the amount of 30 million euros.
This concerns the project for the renewal of ŽPCG's rolling stock, specifically the purchase of new electric multiple units for local passenger transport. The budget law for 2024 provides for the issuance of state guarantees for this, the largest project in ŽPCG to date.
The purchase of new trains will significantly enhance the quality of railway transport services in Montenegro, and in two years, passenger rail transport in Montenegro will be conducted using modern electric multiple units.
Considering that we previously lacked a positive opinion for this project due to an unfavourable financial situation, the now obtained positive opinion, which is a prerequisite for further activities on the implementation of this project, represents a significant step forward and confirmation that our company is on the right path of positive development and modernisation, as confirmed by the opinion of the Competition Agency led by Mr Nebojša Jovović. We emphasise the importance of cohesion in the work of Montenegro Railways, the Agency, and the Ministry of Transport and Maritime Affairs in order to enhance safety and comfort in railway transport.