BUSINESS BRIEFS

Rail modernisation approved

THE CABINET approved a project for the modernisation of the railway tracks between the towns of Piešťany and Nové Mesto nad Váhom in western Slovakia that will cost a total of Sk5.1 billion (€128 million).

According to the Pravda daily, the work is planned to begin this year and should be completed by 2007. The EU will finance as much as 85 percent of the project's costs.

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