EBRD loan contract approved for e-ticket system
A €54.5 million European Bank for Reconstruction and Development (EBRD) loan to the Budapest Transportation Center (BKK) to upgrade the public transportation ticketing system has been approved by the local council.
In late July, the EBRD board okayed the loan, with terms set at eight years at a 2.7% to 3.3% interest rate. A series of tenders will be launched for suppliers of the electronic ticket system, and winners of said tenders are to be announced by early 2014; the total cost of the project is projected to be €67.7 million.
BKK’s plan calls for the phasing out of paper tickets in 2015, and among the resources to be created with the loan are validation equipment for over 2,200 public-transport vehicles and train cars, 9,000 smartcard readers, 3 million smartcards, 700 hand-held inspection devices and a back-office system for data collection.
ADVERTISEMENT
Companies Make Net Repayments on Credit in April
Parl't Approves Amendments to Legislation on Judiciary
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.
