Hungary’s MÁV group to undergo major restructuring
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The state-owned MÁV group will undergo a restructuring from the start of next year, the state secretary for transportation said at an event organised by the Engineers and Technicians Union on Monday.
MÁV group’s restructuring
Bálint Nagy said MÁV group would be separated into a track operator, called MÁV Pályaműködtetési Zrt, while MÁV, Volánbusz and MÁV-HÉV, which provide passenger rail, bus and suburban rail services, would be merged into a passenger unit, dubbed MÁV Szemályszállítási Zrt. Another business, MÁV Szolgáltatóközpont Zrt, will manage services for MÁV, he added.
Nagy said rail and bus service would not compete against each other, but cooperate to serve passengers.
He said around half of the track used for passenger trains had speed limits because of technical problems, adding that funding from Brussels that could be used to remedy the situation was being “held back for political reasons”. For that reason, he said Hungary would use its own resources and credit, adding that there were plans to take out a EUR 1bn loan for railway developments from the European Investment Bank (EIB).