The city of Győr (NW Hungary) will conduct a net HUF 3.8 billion renovation of Dunakapu Square, the regional daily Kisalföld reported on Wednesday.
The newspaper said that a consortium of Közgép, Magyar Aszfalt and West Hungária Bau will complete the renovation, which will include construction of an event area, an underground parking garage and a riverside promenade.
The project will be completed by September 30, 2013.
The city will take out HUF 1.75 billion in loans for the underground parking garage.
Győr Mayor Péter Bolla said that discoveries of archeological ruins during preparation for the renovation have prevented the city from completing the project by the previously targeted June, 2013.