The MoU was signed by the reprentatives of the Serbian government, the city of Belgrade, Chinese company Power China and French companies Alstom and Aegis Rail.

The value of the agreement is €581m (£516m), with €127m of the money earmarked for improvements to the efficiency of the electricity distribution network and the remaining €454m set to be invested in the construction of the first metro line.

The first line will run from Makisko Polje through Belgrade Waterfront, the city centre and Karaburma to Mirijevo, while a second line will go from Mirijevo to New Belgrade and Zemun.

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