BP Council votes to borrow for Metro 3 upgrade
The Municipal Council of Budapest yesterday voted to move ahead on the financing of renovations on the city’s Metro Line 3, including making preparations for a loan to fund the project, according to reports.
The proposal passed with 28 in favour and two against, with only representatives of the opposition E-PM party opposing the motion. They also moved to declare the project a priority investment, and asked Budapest Transport Company BKV to call a tender for the refurbishment of carriages on the metro line in close cooperation with the City and Budapest Transport Centre BKK. With yesterday's decision, the mayor of Budapest will be authorised to start preparations and talks on a loan to finance the Metro 3 upgrade, and to seek necessary guarantees after consulting with the minister of development.
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