This CEI Trust Fund supported activity will assist the EBRD in their relationship with the Zeleznice Srbije (Serbian Railways; ZS). Building on the long-term relationship with the Company, the EBRD intends to support ZS in implementing an integrated Energy Management Information System (EMIS). The main purpose of the activity is to provide ZS with the technical information and tools to gradually improve the process of monitoring of the use of natural resources (mainly energy ones) across its operations and utilise the related information to improve efficiency, reduce operational costs and improve overall control of environmental impact. To this end, the CEI will finance the present TC activity which serves two main purposes. First, the assignment will assess the impact of the replacement of rolling stock (introduction of EMUs). Second, the TC activity will review areas for energy saving measures including the improvement of organisational arrangements. Ultimately, the CEI Trust Fund supported activity will help the Serbian Railways Company improve its control of energy use and of its environmental impact, improve efficiency of operations, and introduce tools for improved planning of future investments. As part of this process, ZS has agreed to set up an Energy Efficiency Unit (EEU) belonging to a larger Sustainability Department, with the responsibility of monitoring energy use, identifying project opportunities and coordinating the introduction of energy saving measures. The implementation of an integrated Energy Management Information System (EMIS) is required to improve the overall monitoring of energy use and to provide the EEU with the tools to control the utilisation of resources and execute feedback actions, as identified also by the TCfunded consultants. The EMIS will consist of meters, monitoring systems (including on-board), communication systems, software and dedicated logic which will allow an integrated management of energy flows and support the execution of resource saving actions and measures. The assignment will also include an analysis of the feasible solutions for integrating the regenerative breaking systems (which will equip new rolling stock) into the electric infrastructure of ZS. This component also follows a recommendation of the mentioned previous TC-funded assistance.