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Nabucco contract to be signed in July

The contract on the EU-backed Nabucco natural gas pipeline is to be announced in July, after its expert-level preparation will be completed today, said Mihály Bayer, Hungary’s ambassador to the investment.

Bayer noted that the project will not be experiencing any financial issues, since commercial banks are already showing strong interests. Participating companies will have to inject €2.4 billion of the €7 billion – €8 billion total budget, with the EU also expected to get seriously involved on the funding side. (Napi Gazdaság)