Metro 3 renovation to continue after BKV accepts higher project costs

City

The Budapest Public Transport Company (BKV) on Tuesday said it signed a memorandum of understanding with Austrian-owned Swietelsky Vasúttechnika allowing the renovation of the middle section of the capital's number 3 metro line to move forward, according to a report by state news wire MTI.

Under the MoU, the project cost will rise by up to HUF 9.5 billion over the HUF 48 bln in the contract signed in 2017.

The middle section is expected to re-open in January 2023, in line with the timing for accounting European Union funding used for the project.

The northern and southern sections of the line were renovated earlier.

ADVERTISEMENT

CMS appoints new competition partner Appointments

CMS appoints new competition partner

ÁKK sells HUF 38 bln of bonds at switch auction Debt

ÁKK sells HUF 38 bln of bonds at switch auction

Gov't expands investment support program by HUF 30 bln Government

Gov't expands investment support program by HUF 30 bln

English language discussion series: 'FDI Dependent Capitalis... Conferences

English language discussion series: 'FDI Dependent Capitalis...

SUPPORT THE BUDAPEST BUSINESS JOURNAL

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.