Tarlós said the renovation of the metro line could cost around HUF 135-140 billion. The European Commission has approved a modification to support the project, he added, citing a letter received from the Ministry of National Development.
The mayor noted that at this time it is not known how much grant money the capital would receive from the European Union for the project, but any shortfall would be covered by the Hungarian government.
Tarlós said that under current estimates the government might have to contribute around HUF 50 bln for the renovation, adding that he had received a reassurance from the prime minister that the government would accelerate its own work process and guarantee the funding necessary.
Renovation work on the M3 metro line must start at the end of February 2017 or early March at the latest, Tarlós noted.
Budapest public transport company BKV will use buses to replace services along the metro line while it undergoes renovation. Tarlós stressed that the capital can only buy Hungarian buses for this service if available, and added that he will urge Hungarian bus manufacturers to bid in BKV bus purchase tenders.
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