Release date: 6 September 2022
Promoter – Financial Intermediary
NEMZETI INFRASTRUKTURA FEJLESZTO ZRTLocation
Description
Construction of a 56.7 km section of the M85 expressway between Csorna and Sopron.
Additionality and Impact
The new M85 expressway is a strategic link of the Vienna - Wiener-Neustadt - Sopron - Gyor - Budapest corridor included in the Hungarian National Transport Infrastructure Development Strategy (NTIDS). The project provides a bypass function to several towns and thus is an essential component of their strategic urban mobility plans in terms of sustainability and health. The project is located in a less developed region under both the 2014-2020 and 2021-2027 EU Cohesion Policies.
EIB long-term financing and its flexibility regarding e.g. drawdown currency provides additional value for the Promoter in comparison to the terms of alternative financing options such as those typically available on the Bond market.
Objectives
The project is a cross-border strategic link contributing to further integration between Hungary and Austria. The new M85 expressway is an element of the Vienna - Wiener-Neustadt - Sopron - Gyõr - Budapest strategic corridor included in the Hungarian National Transport Infrastructure Development Strategy (NTIDS). The project is located in a less developed region both under the 2014-2020 and 2021-2027 EU Cohesion policies.
Sector(s)
- Transport - Transportation and storage
Proposed EIB finance (Approximate amount)
EUR 275 million
Total cost (Approximate amount)
EUR 551 million
Environmental aspects
The requirements of the Environmental Impact Assessment Directive 2011/92/EU as amended by Directive 2014/52/EU, Birds Directive 2009/147/EC and Habitats Directive 92/43/ will be verified during appraisal.
Procurement
The Bank will require the Promoter to ensure that contracts for implementation of the project have been tendered in accordance with the applicable EU procurement legislation, namely, Directive 2014/24/EU as well as Directive 92/13/EEC or Directive 89/665/EEC as interpreted by the Court of Justice of the EU, with publication of tender notices in the Official Journal of the EU, as and where required.
Status
Approved - 21/09/2022
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).