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LJIG, Serbia, Aug. 18 -- A new section of Serbia's international E-763 highway named "Milos the Great" was opened to traffic on Sunday at a ceremony in Ljig municipality, which is 80 km southwest of Belgrade.

At the ceremony, Serbian President Aleksandar Vucic said that the 62.5-kilometer section highway, which was built by China's Shandong Hi-speed Group, marks a "new quality of life" for the country, and will lure investors to cities and towns along the route.

The president said that the country in past several years came a long way from the brink of bankruptcy to the status of the most attractive investment destination globally, and noted that "much of the success was achieved in cooperation with our Chinese friends".

He said that Chinese companies revived Serbian economy, namely HBIS that purchased Smederevo steelworks, Zijin that invested in the copper mining and smelting complex in the city of Bor, as well as Linglong that launched a big investment in the city of Zrenjanin.

Vucic concluded by highlighting the importance of road connections for the future development of Serbia, and announced new infrastructure projects with Chinese companies in the future.

The new section with a projected speed of 130 kilometers per hour is 28.4 meters wide and has 42 bridges and overpasses, according to a government press release.

The new highway will further relieve traffic on the local road that was so far the only way for both cargo transport and passengers.

Chinese ambassador to Serbia Chen Bo, as well as officials from Montenegro and Bosnia and Herzegovina, and representatives of the Shandong Hi-Speed Group attended the opening ceremony.