János Lázár, Construction and Transportation Minister, outlined government plans for railway developments at a meeting of parliament's economy committee on Tuesday.
Lázár said the upgrade of the Budapest-Belgrade rail line would be completed by September 30, 2025. The USD 2.2bn project will reduce travel time between the two capitals to three hours and ten minutes, he added.
Lázár said the renovation of 14 key rail lines could start in the near future. The projects, involving around 500km of lines, will be financed with a 30-year loan from the European Investment Bank (EIB) on which a decision is expected to be taken in April, he added.
Lázár said close to HUF 1,700bn was earmarked for fleet upgrades. He added that there was no chance of procuring new locomotives before 2026 because of long waits for delivery, but used or refurbished vehicles could be purchased.
Lázár said some HUF 1,500bn in support from the European Commission for railway renovation could be used mostly for the upgrade of the five HEV rapid suburban rail lines in the capital and environs. Tenders for the acquisition of HEV rolling stock could start in Q4 2024 or Q1 2025, he added.