BELGRADE -- Serbia has signed a contract with China's Shandong High-Speed Group (SDHS) to build a new railway station complex in New Belgrade, a central business district of the capital city.

The agreement worth 138 million euros (151.03 million US dollars) was formalized on Saturday by Serbia's Minister of Construction, Transport, and Infrastructure Goran Vesic, and a SDHS representative, in the presence of China's Ambassador to Serbia Li Ming.

The project includes 70 million euros for the construction of a new station and approximately 40 million euros for reconstructing the station's bridge structure. Construction is scheduled to begin early next year, with completion set for December 2026.

"This station will be integrated with the bus and tram networks, significantly enhancing the city's transport system," Vesic said.

Li underscored the importance of this agreement, calling it a new highlight of Sino-Serbian friendship, which will boost Serbian transport system and railway industry. He also described collaboration on infrastructure development and the ongoing EXPO 2027 project as key areas of partnership between the two states.

From May 15 to Aug 15, 2027, Serbia will hold World Expo, also known as Specialised Expo, in Belgrade with the theme of "Play for Humanity." It will be the first time that World Expo is held in the Western Balkan region.

The station, designed by Serbian academic Milovan Lojanica, is poised to enhance New Belgrade's role as a transport hub, providing improved multimodal services once operational, the statement said. (1 euro = 1.09 US dollar)