ail infrastructure projects 713 prioritization of railway infrastructure projects using the anp approach – case study serbian railway network Miroslav Prokić, Dragana Macura, Branislav Bošković University of Belgrade, Faculty of Transport and Traffic Engineering, Serbia Abstract One of the strategic goals of each country is the transport infrastructure development. The rea- lization of transport infrastructure projects provides faster economic and social development of the country and the region as well. Considering the railway sector, at the beginning, it is necessary to prepare project’s documentation that depends on the selected level of the railway infrastructure development. The types of the railway infrastructure improvement in the Republic of Serbia are defined as follows: renewal or rehabilitation, reconstruction, mo- dernization and construction of railway lines. The time of completion of the works related to certain type of improvement varies according to scope and type of works, the terrains on which railway line is located, the liquidity of the country, as well as the willingness of inter- national financial institutions to provide loans. Considering the limited availability of loan resources and the inability of the country to provide greater guarantees, further prioritization of railway infrastructure projects is necessary. In the process of prioritization it’s essential to consider economic and financial indicators, that define the feasibility of the project, but also other relevant technological indicators. In this paper, the proposed method for ranking railway infrastructure projects is the multi-criteria approach – Analytic Network Process, ANP. The developed model is tested on the data related to the railway infrastructure projects in the Republic of Serbia. Keywords: Railway projects, Projects prioritization, Analytic Network Process 1 Introduction Due to its life cycle, railway infrastructure can be exploited for a long time without investing in its maintenance. However, if an infrastructure manager wants to ensure infrastructure’s reliability and safety, and be economical, it is better to invest in the maintenance today. Non-providing funds for a long time for regular maintenance of the railway infrastructure in the Republic of Serbia, and no replacement of fixed assets have caused a low level of technical reliability, thus leading to imposing of a large number of speed limits in order to maintain the safety of railway transport, which consequently interrupted the realization of the planned train schedule. For these reasons the Republic of Serbia has made great efforts in providing funds from international financial institutions in the past few years. So far, some projects have been completed or launched on Corridor X, while in the future, several large projects with provided funds are expected to start. These projects have been identified in the relevant strategies for the development of railway infrastructure, as well as in the National Program for Public Railway Infrastructure for the period 2017-2021 [1]. The backbone of the railway network in Serbia is part of the Pan-European traffic Corridor X Salzburg-Ljubljana-Zagreb-Šid-Belgrade-Niš-Preševo-Skopje-Veles-Thessaloniki. In Serbia, 17–19 May 2018, Zadar, Croatia 5 th International Conference on Road and Rail Infrastructure I:  https://doi.org/10.5592/CO/cetra.2018.755