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HUF 700 bln in railway developments to be completed this year

Transport

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Unprecedented railway developments will be completed in Hungary this year worth about HUF 700 billion of investment, said State Secretary for Transport Policy László Mosóczi, of the Ministry of Innovation and Technology (ITM), according to origo.hu.

He indicated that in the new EU financial cycle Hungary can spend a total of up to HUF 2 trillion on community co-financing for railway investments, and in order to successfully commit the amount, the government provided a total of HUF 32 bln at the end of last summer to plan 20 railway developments.

The preparatory projects will be the basis for the start of construction works requiring approximately HUF 1 tln in resources, if possible as early as 2022.

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