Budapest M3 Metro Line Renovation Proposal Could Come Before Govt In Late Sept
- 28 Jul 2016 9:00 AM
A proposal on funding the renovation of Budapest’s M3 metro line will be submitted to the government at the end of September or early in October, the head of Hungary’s authority for payouts of European Union support for public transport investments said.
Flórián Szalóki said the Budapest Public Transport Company (BKV) is seeking 137.5 billion forints in EU grant money for the project.
The total cost of the renovation, including the trains as well as the tunnels and stations, is expected to reach about 200 billion forints. Hungary is consulting with Joint Assistance to Support Projects in European Regions (JASPERS) on the investment, Szalóki said.
JASPERS is a technical assistance partnership between the European Commission, the European Investment Bank and the European Bank for Reconstruction and Development.
It provides independent advice to beneficiary countries to support preparations for big, high-quality projects.
István Tarlós, the mayor of Budapest, said earlier in July that the capital expects EU support to cover no less than 60% of the M3 renovation’s cost. Szalóki noted that the project may start before an agreement is reached on how to pay for it.
Republished with permission of Hungary Matters, MTI’s daily newsletter.
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