Budapest-Belgrade Rail Construction Thrown Into Doubt
File photo shows employees of China Railways International and the China Construction Company at a ceremony for the start of work on the Belgrade-Budapest railroad in Belgrade in October 2018.
Photo by Fotosr52 / Shutterstock.com
The future of multi-billion dollar Budapest-Belgrade high-speed rail link has been thrown into doubt after Hungary redirected its equipment and workforce to address the deteriorating railway line between Budapest and Győr (120 km northwest of Budapest), in the west of Hungary, writes centraleuropeantimes.com.
According to reports, the Chinese have ceased financing the construction, and their employees have halted work.
Companies owned by the billionaire investor Lőrinc Mészáros, a key ally of Prime Minister Viktor Orbán, have been overseeing the project in collaboration with Chinese partners.
The original plan was to build a high-quality railway line linking the Chinese-owned port of Piraeus, Greece, to Western Europe via Hungary, Serbia, and North Macedonia.
However, Mészáros has now scaled back his companies' involvement in the project, causing the Chinese to halt both work and project financing, the report notes.
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