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.
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