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Signature(s)

Amount
€ 150,000,000
Countries
Sector(s)
Hungary : € 150,000,000
Energy : € 150,000,000
Signature date(s)
30/04/2010 : € 150,000,000
Link to source

Summary sheet

Release date
16 November 2009
Status
Reference
Signed | 30/04/2010
20090517
Project name
Promoter - financial intermediary
MVM Electricity Network Development
The promoter of the project is the Hungarian Transmission System Operator Ltd. ("MAVIR"), a fully owned subsidiary of the state-controlled MVM Group, the leading energy group of Hungary.
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
EUR 150 million
Estimated at EUR 311 million
Location
Sector(s)
Description
Objectives

The project consists of 7 project schemes aimed at reinforcing and extending the Hungarian electricity transmission network over the period 2010-2015. The project includes the upgrade of the transmission corridor Martonvásár-Bicske-Györ and six new/extended substations situated in dispersed locations over the Hungarian territory.

The project will promote the development of the electricity transmission network in Hungary and will be entirely implemented in areas designated as convergence regions. It will improve security and diversification of supply through the construction of additional internal transmission capacity.

Environmental aspects
Procurement

The project scheme involving the upgrade the transmission corridor Martonvásár-Bicske-Györ falls under Annex I of the EIA Directive and requires an EIA, while the remainder project schemes for construction/extension of substations fall under Annex II, leaving it to the national competent authority to decide whether an EIA would be required in line with the screening criteria specified in the directive. The environmental impacts that can be typically expected for the project schemes relate to visual impact, vegetation clearance, electromagnetic fields, noise nuisance and disturbance during construction.

The details of the procurement procedures followed for the project schemes and their compliance with the EU Directive on public procurement will be investigated during appraisal.

Link to source

Disclaimer

Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).

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