Budapest, May 5 (MTI) – The renovation of Budapest’s metro 3 under a contract signed on Thursday is scheduled to receive 120 billion forints in European Union funding and 20 billion from the central budget, a government official said.
The contract was signed by Budapest transport company BKV chairman-CEO Tibor Bolla and National Development Ministry deputy state secretary Florián Szalóki.
Last week the local council of Budapest approved the contract on the state guaranteeing the full 140 billion forints even if EU funding for the project fails to materialise.
The renovation will start in November and is scheduled to be completed in the summer of 2019. Rails, security equipment and control centres will be replaced while escalators will be renovated and stations expanded as part of the project.
The first section of the line was opened in 1976 and it reached its current length of 17.3km in 1990.