Lázár said the upgrade of the Budapest-Belgrade rail line would be completed by September 30, 2025.
The USD 2.2 bln project will reduce travel time between the two capitals to three hours and ten minutes, he added. Lazar said the renovation of 14 key rail lines could start in the near future.
The projects, involving around 500 km of lines, will be financed with a 30-year loan from the European Investment Bank (EIB) on which a decision is expected to be taken in April, he added.
Lázár said close to HUF 1.7 tln was earmarked for fleet upgrades. He added that there was no chance of procuring new locomotives before 2026 because of long waits for delivery, but used or refurbished vehicles could be purchased.
Lázár said some HUF 1.5 tln in support from the European Commission for railway renovation could be used mostly for the upgrade of the five HÉV rapid suburban rail lines in the capital and environs. Tenders for the acquisition of HÉV rolling stock could start in Q4 2024 or Q1 2025, he added.
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