At the opening of a revamped metro station at Arany János Street on Monday, Tibor Navracsics, the minister of regional development, said the development project to revamp metro line 3 (M3) does more than serve the interests of Budapest residents alone.
Minister Navracsics noted that the metro development project is being carried out in cooperation between the Hungarian government, the capital and the European Union. Around two-thirds of the project’s costs have been financed by the EU, he added. Navracsics said Budapest was an important hub in central Europe in terms of culture and infrastructure, so the EU resources were being put to good use. Future transport development plans in Budapest include the modernisation of tramlines connected to the route of the M3, with an allocation of 105 billion forints (EUR 260m), and the further development of the area around the Nyugati railway station, he said. EU funding for the M3 development project came to 172.7 billion forints (EUR 432m), state co-financing was 44.8 billion, and the municipal council contributed 7.1 billion forints. M3 trains will not stop at the Nagyvárad Square or Lehel Square stations until the full project is completed in May.