Release date: 21 October 2014
Promoter – Financial Intermediary
PUBLIC ENTITY(IES)Location
Description
The project consists of the rehabilitation and reconstruction of various TEN-T railway lines within Hungary, as well as purchasing 42 electric multiple units (EMUs) and implementing the GSM-R system on certain TEN-T corridors. The EIB loan will support the national contribution to schemes also co-financed by grants from the Cohesion Fund from the EU programming period 2007-2013 and phasing into 2014-2020.
Objectives
The project contributes to the objective of promoting sustainable transport on TEN-T core and comprehensive networks, as increased rail usage with a shift from road will reduce road traffic emissions and road traffic accidents. Moreover, the project will promote economic and social cohesion as the schemes are located in convergence areas.
Sector(s)
Proposed EIB finance (Approximate amount)
HUF 57000 million
Total cost (Approximate amount)
HUF 382001 million
Environmental aspects
The project is a multi-investment program, therefore the need for an environmental impact assessment (EIA) may vary according to each scheme and will be analysed on a case-by-case basis, as well as any potential significant impacts on protected areas. Details on environmental aspects of each scheme and compliance with EU directives, when and where relevant, will be checked before schemes are allocated under the framework loan. The project is expected to have a positive impact on the environment by contributing to a modal shift from road to rail transport and to maintain railway transport attractiveness and competitiveness.
Procurement
The promoter is subject to and follows public procurement rules according to EU and national regulations. The Bank will require the promoter to ensure that contracts for the implementation of the project have been/will be tendered in accordance with the relevant applicable EU procurement legislation (in this case Dir. 2004/18/EC, 2004/17/EC and 2007/66/EC), with publication of tender notices in the EU Official Journal, as and where appropriate. The promoter’s procurement procedures will be checked during appraisal.
Status
Signed - 12/12/2014
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).