State and local officials signed a contract for HUF 27 billion in support for developments that is planned to transform the area around the city of Záhony into a logistics hub for the entire region.
The entire project is expected to cost HUF 32.5 billion by the time it is completed at the end of 2012. Work on railways in the region will cost HUF 20 billion, of which HUF 16.5 billion will come from EU funding, said government commissioner in charge of coordinating the project Sándor Kálnoki Kis.
The contract contains HUF 5.8 billion from the EU and more than HUF 1 billion from the state for road developments. The deadline for completing the railway projects is the end of 2010 and the road projects are expected to be finished by the end of 2011.
Earlier, some HUF 1.7 billion in support was paid out to 14 SMEs in the region for 17 big investments worth a combined HUF 4.4 billion expansions of company facilities. (MTI – Econews)