Skinest Rail earlier submitted a formal complaint to the European Commission over the public procurement procedure begun by Budapesti Közlekedési Zártkörűen Működő Részvénytársaság (BKV Zrt.) for the modernization and renovation of the vehicles of Budapestʼs Metro Line M3, saying that it felt its bid was “more favorable in every key aspect”.
“Skinest remains confident of the quality of its original bid, and of its own capabilities and experience in completing major metropolitan transport renovation projects,” the announcement says.
However, Skinest “still sees Hungary as an excellent fit with its longer-term business objectives, and it is ready to utilize its strong track record in renovating and building new rolling stock to serve the Hungarian market at any appropriate time,” the announcement added.
Skinest received the formal documentation of Hungary’s Public Procurement Arbitration Board ʼs decision on September 21, 2015, and “will evaluate it in full”.
The modernization and renovation project for the Metro 3 line was awarded to Russiaʼs Metrowagonmash. In order to complete the refurbishment of Budapest’s M3 metro line, the Hungarian state will be required to take out a loan for HUF 60 bln, the repayment of which could be as much as HUF 74.5 bln forints by the time the loan is fully repaid in 15 years, an earlier report suggests.
Producing journalism that is worthy of the name is a costly business. For over 30 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.
