RIA Novosti: Putin: South Stream Project Will Provide Serbia With More Than $2.5 Bln in Investments

The South Stream project will provide Serbia with more than 2 billion euros ($2.5 billion) in new investments and strengthen the country's energy security, Russian President Vladimir Putin said.

"The total amount of Russian investments in Serbia has exceeded $3 billion. Most of these funds have been invested in the strategically important energy industry. One example of successful cooperation is the energy giant Petroleum Industry of Serbia, which has turned from a loss-making enterprise into a major contributor to the Serbian state budget. The South Stream project will provide Serbia with more than 2 billion euros [$2.5 billion] in new investments and significantly strengthen the country's energy security," Putin said in an interview with Serbian newspaper Politika ahead of his visit to Belgrade, scheduled for Thursday.

The Russian leader reminded that Serbia's rail infrastructure is being rebuilt and upgraded with the participation of the Russian Railways and with Russian support in the form of loans. Putin also noted the growing interest of Serbian businesses towards the Russian market. "I am pleased to see Serbian businesses play an active part in the promising Russian market. For example, they supply high-quality agricultural and industrial products," Russian President said.
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