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European Commission approves Metro 4 phase I

The European Commission has approved the first phase of construction of Budapest's fourth underground line, the National Development Agency (NFÜ) said on Friday.

The first, HUF 353 billion phase of the line is being supported with HUF 181 billion in EU development funding and HUF 41 billion from the central budget. The phase is expected to be technically completed in 2012. The decision brings the number of big projects in Hungary the Commission has approved to 11. A further 16 projects have been approved by the government and 12 of these have been submitted to Brussels. (MTI-Econews)