First section of M6 opens
A 58.6 kilometer stretch of Hungary's M6 motorway, connecting the capital with Dunaújváros in the south, was opened on Sunday, more than three months before the deadline.
The stretch cost €500 million to build. The builders of the stretch, a consortium of Bilfinger Berger, Porr and Swietelsky, were awarded a contract to build the stretch and operate it under a 22-year concession in October 2004.
In March 2006, the government and the consortium signed an agreement on refinancing some €412 million in loans raised to build the section with a €200 million loan of the European Investment Bank (EIB) and the proceeds from a €212 million bond issue, organized by Dexia Bank and to be listed on the Luxembourg stock exchange. The Economy and Transport Ministry said the refinancing would save €20 million.
ADVERTISEMENT
Investment Volume Falls 2.8% in Q1
Parl't Approves Amendments to Legislation on Judiciary
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.
