HUNGARY: A US$2·078bn contract to implement a major modernisation of the Hungarian section of the Budapest – Beograd route was signed on June 12.
The scope includes doubling-tracking the 150 km route from Budapest Soroksár to the border at Kelebia, installing ETCS Level 2 and work to permit 160 km/h operation.
The programme is to be undertaken by the CRE consortium of local company RM International (50%), China Tiejiuju Engineering & Construction and China Railway Electrification Engineering Group.
The contract will come into force once a loan agreement to finance 85% of the cost is finalised with China’s EximBbank, which is expected in the third quarter of this year. The Hungarian government is to provide the remaining 15%.
Work is scheduled to be completed within five years.