HUF 700 bln in railway developments to be completed this year

Transport

Image by Pixabay

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.

ADVERTISEMENT

Equilor analysts forecast 4.5% GDP growth for 2022 Analysis

Equilor analysts forecast 4.5% GDP growth for 2022

Márki-Zay tests positive for COVID-19 Elections

Márki-Zay tests positive for COVID-19

New leasing and sales director at Horizon Development Appointments

New leasing and sales director at Horizon Development

Gov't calls for technical screening of László Papp Arena City

Gov't calls for technical screening of László Papp Arena

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.