China Railway Group wins $1.6 bln Hungarian high-speed rail contract



The Hungarian government awarded a $1.57 billion contract to a consortium led by China Railway Group (CRG) to build the Hungarian section of a rail line linking Budapest with Belgrade, Serbia, in Chinaʼs first high-speed rail win in the European Union, Reuters reported today.

Three firms - CRGʼs China Railway International Group, a subsidiary of national operator China Railway Corporation, and Hungarian State Railways - will form a consortium to construct the 160-kilometer route, CRG said in a statement today, according to Reuters.

The 350-kilometer-long railway is expected to be completed in two years, and will be able to accommodate trains traveling up to 200 km/h, Reuters reported, adding that the Chinese firms will account for 85% of the consortium. No further details on the contract were provided, Reuters added.


The New Age of Commerce is Approaching Analysis

The New Age of Commerce is Approaching

Horthy Statue to be Unveiled in Parliament Parliament

Horthy Statue to be Unveiled in Parliament

UPS Appoints Regional Director Appointments

UPS Appoints Regional Director

Runway Run Held for the 10th Time Social

Runway Run Held for the 10th Time


Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.