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Regional development agency withdraws funding from Hévíz spa

The Western Transdanubia Regional Development Agency has withdrawn the HUF 1.5 billion funding allocated to the development of the Hévíz spa since the company operating the institution failed to meet the required conditions over 18 months, the regional organization told MTI.

The project has total costs of HUF 5 billion.

The regional-development agency said that 18 months after the signing of the funding contract, Hévízgyógyfürdő és Szent András Reumakórház Nonprofit Kft still does not possess a contract for the planned construction work and has only been able to draw down a minimum amount of the funding allocated for the project.

The National Development Agency has therefore examined the project and asked the regional development agency to withdraw from the funding contract, the development agency said. (MTI-ECONEWS)