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HUF 400 mln infrastructure development underway near Budapest - paper

Construction of road and public-utility infrastructure worth HUF 400 million has begun at a 45-hectare site of a planned business, logistics and commercial center near the M3 motorway northeast of Budapest, the business daily Világgazdaság reported on Wednesday.

Pál Gyuga, chief executive of Cross and Stern, the developer building the infrastructure, said the company had received HUF 200 million in National Development Agency funding for the investment, which is due to be completed by the end of this year.

Világgazdaság said the first stage of the projected HUF 16-20 billion Central Business Park in the village of Bag (C Hungary) would include a 200-dock truck terminal and a HUF 2.2-billion investment-company-funded commercial and service center including restaurants, service stations, grocery and gardening stores, a motel as well as a bus depot and bank office.

The newspaper said that the second phase of the investment would include construction of a 40,000‑sqm agricultural distribution center and a 100,000-sqm innovation and service center focused on Hungary's fruit and vegetable market.

Gyuga did not say when the opening of the Central Business Park was planned for.