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    Reference: 20150025
    Release date: 13 October 2015

    Promoter – Financial Intermediary

    HUNGARY

    Location

    Description

    The project is a major project allocation under the structured programme loan "Cohesion Fund FL III Phasing Rail Investments (2014-0278)" and consists of the acquisition of new rolling stock for passenger transport in the Budapest agglomeration.

    Objectives

    The project's objective is to provide a high quality passenger rail service in the future, renewing and expanding the existing passenger fleet. Trains will mainly operate on lines approaching Budapest, serving commuter flows within the Budapest agglomeration. Furthermore, the rolling stock will operate partly on the TEN-T network.

    Sector(s)

    Proposed EIB finance (Approximate amount)

    EUR 36 million

    Total cost (Approximate amount)

    EUR 252 million

    Environmental aspects

    The project does not fall under either Annex I or Annex II of the Environmental Impact Assessment (EIA) Directive (2011/92/EU), which is not applicable to the manufacture and use of rail rolling stock. The project is expected to have a positive environmental impact by helping the railways to maintain modal share in key sections of the passenger transport market. In comparison with the old fleet, the new trains have the potential to generate significant energy savings, emission reductions and safety improvements.

    Procurement

    The promoter is a public entity obliged to comply with the European and national public procurement legislation. The supply contract, which was over the relevant EC Directive threshold, was internationally tendered, with publication of the contract notice in the Official Journal of the EU in November 2012. The contract was awarded and signed on 19 March 2013.

    Status

    Approved - 16/11/2015

    Disclaimer

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

    Related tags

    Hungary Transport