The Jinan-based construction company Shandong Hi-Speed Group started construction on its second expressway project in Serbia on June 17.

This is the second transportation infrastructure project that Shandong Hi-Speed has carried out in Serbia – the first being the E763 highway.

The 18.3-km Lajkovac-Iverak road starts near the town of Lajkovac and stretches to the city of Valjevo, some 90 km southwest of the capital city of Belgrade.

In the future, the expressway will connect the upcoming Belgrade-South Adriatic highway with parts of Bosnia and Herzegovina to the west and Corridor 10 to the east, making Valjevo a focal point of Serbia's development plans.

Serbian President Aleksandar Vucic attended the groundbreaking ceremony. 

Vucic said that the road, costing 158 million euros ($177 million), will be completed in 2022.

During a speech, Vucic thanked Shandong Hi-Speed and stressed the importance of the highway.

He said that the highway has been a dream for people who live along the route for many years, as it will cut travel time between Belgrade and Valjevo to just one hour.

The president added that the road will also help attract investors to Valjevo, improve the local investment environment, increase employment, and improve people's lives.

Chen Bo, Chinese ambassador to Serbia, said Chinese companies are more willing to participate in the development of the Serbian infrastructure under the Belt and Road Initiative.

"I am sure that Chinese companies are prepared to contribute to infrastructure development in Serbia with their vast knowledge, advantaged technology, rich experience, and limitless capabilities. Hopefully we can see even stronger infrastructure cooperation in the future," said the ambassador.

Xinhua contributed to the story.