Release date: 10 April 2002
Promoter – Financial Intermediary
The Hungarian State Railway Company Ltd. - MÁVLocation
Description
Financing of the investment cost of rail rehabilitation works of a portion of the line Budapest-Cegled-Szolnok-Lököshaza (Phase II) forming part of the Pan European TEN Corridor IV, eligible for EU grant financing (ISPA)
Objectives
The loan proceeds will contribute to the rehabilitation and modernization works of the Budapest-Cegled-Szolnok-Lököshaza railways line and allow for a more efficient and safe rail transportation. The project will be implemented to achieve compliance with current EU levels so that the project assists Hungary in its EU accession efforts.
Sector(s)
Proposed EIB finance (Approximate amount)
EUR 40 million
Total cost (Approximate amount)
EUR 114 million
Environmental aspects
The Bank in close co-operation with ISPA will require the promoter to ensure compliance of the individual investment schemes with relevant national and EU Directives.
Procurement
The related works contracts will be awarded by open international tendering as per the standard requirements of the Bank and ISPA.
Status
Signed - 16/12/2002