Release date: 16 November 2009
Promoter – Financial Intermediary
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.Location
Description
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.
Objectives
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.
Sector(s)
Proposed EIB finance (Approximate amount)
EUR 150 million
Total cost (Approximate amount)
Estimated at EUR 311 million
Environmental aspects
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.
Procurement
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.
Status
Signed - 30/04/2010
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).