Consortium for reconstruction of Hungarian section of Budapest-Belgrade railway to be selected by end-April?

Hungarian Finance Minister Mihaly Varga said that the consortium for the reconstruction of the Budapest-Belgrade railway, financed by China, might be selected by the end of April.

After talking to representatives of the Chinese Exim Bank, which largely finances the project, in Beijing, Varga said that the reconstruction of the railway, which should be completed by 2023, would enable Hungary to remain competitive when it comes to transport routes for Chinese companies which ship goods to Europe.

The Hungarian government announced in December that it would open a new tendering procedure for the project, as the initial bids had been 20% higher compared to the estimated expense of around EUR 1.8 billion for the Hungarian section.

The Export-Import Bank of China

The Government of Hungary

Exim Bank

Government of Hungary

Mihaly Varga

reconstruction of Budapest Belgrade railway

Budapest Belgrade railway