China has offered Hungary an 18-year loan with an interest rate of 2.5% to finance the overhaul of the railway line connecting Budapest to Serbia’s capital Belgrade, Hungary’s Foreign Minister Peter Szijjarto announced. In the absence of comparable European funds, Chinese funds are the best option for the overhaul of the Budapest-Belgrade railway line, Szijjarto said.
Hungarian railway operator MAV opened a tender in November 2017 for the overhaul of the 152 km-long Hungarian section of the Belgrade-Budapest railway line. Тhe estimated cost of the overhaul of the Hungarian section of the Belgrade-Budapest railway line will total 550 billion forints (EUR 1.77 billion). Works are scheduled to start by the end of 2020.
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