Economy
Hungary to upgrade Budapest-Belgrade rail line for HUF 472 bn
The Hungarian-Serbian-Chinese workgroup for upgrading the railway line, which is to become part of a corridor for bringing Chinese goods to Europe, held its third session on Thursday in the Ministry of Foreign Affairs and Trade. At a press conference after the session, Szijjártó said the two required agreements could be signed by October 31. China will submit a financing offer by August 15, which will have to be more favorable than market conditions, the minister said.
The 166-km Hungarian section would cost an estimated HUF 472 bn to rebuild. The aim of the project is to reduce travel time for passenger trains between the two capitals to 2.5 to 3 hours, and also to provide a corridor towards Western Europe for Chinese goods arriving at the port of Piraeus in Greece.
The refurbished railway line will be double-track and fully electrical and will accommodate even the largest freight trains, while passenger trains could travel the line at 160 kph. Construction is expected to take 2 to 2.5 years, Szijjártó said.
The 166-km Hungarian section would cost an estimated HUF 472 bn to rebuild. The aim of the project is to reduce travel time for passenger trains between the two capitals to 2.5 to 3 hours, and also to provide a corridor towards Western Europe for Chinese goods arriving at the port of Piraeus in Greece.
The refurbished railway line will be double-track and fully electrical and will accommodate even the largest freight trains, while passenger trains could travel the line at 160 kph. Construction is expected to take 2 to 2.5 years, Szijjártó said.
