You are here:
Hungary, Austria eye €173M rail upgrade projects
Published: Mon, 2015-03-23 09:00-
-
Printer friendly
New rail upgrade projects
The governments of Hungary and Austria have unveiled plans to launch two rail modernisation projects worth €130 million and €43 million, respectively. The investments were announced at a joint press conference by Hungarian and Austrian officials.
Under the plan, the two projects are to be financed from the European Union’s planned €315 billion investment package, but if the funds are not acquired, alternative funding sources should be secured, Levente Magyar, Hungary’s state secretary in charge of economic diplomacy, said at the conference, reported local news weekly Budapest Business Journal.
Hungary and Austria are aiming to upgrade the rail links between Oberwart and Szombathely, and Sopron and Ebenfurth. At the joint conference, Hans Niessl, the governor of Austria’s Burgenland state, said that for the former rail project, Austria and Hungary would provide €89 million and €30 million, respectively, while for the latter investment, the two countries will provide €33 million and €10 million, respectively.
The planned investments, worth a total of €173 million, are expected to create as much as 2,200 new jobs, and significantly contribute to the economic development of bordering Hungarian and Austrian regions, according to Niessl.
Av Jaroslaw Adamowski
Related News
Relevant Content
Nanjing Metro Line 3 started operation
Metro system ranks fourth in China
Ugandan Railway Project financed by China
Separate contracts needed
Saint-Etienne approves third tram project worth up to €85M
New French tram investment
Miami’s new Airport Train Station opened
Construction began 4 years ago
Bangkok Skytrain extension contracts awarded
Construction of a depot as wel
Italy’s Trenitalia awards €98M train deal to AnsaldoBreda
New train order in Italy
Siemens obtains €1.7BN train order from Rhine-Ruhr
New EMU order
DMRC supports Make in India initiative
“About 90 percent of the trains procured by DMRC so far have been manufactured in India”
Brussels third metro project begins
To open for service in 2024
Kazakhstan, Azerbaijan, Georgia and Turkey to build joint transport company
Carrying 17 million tons of rail cargo/year. Kazakhstan
First phase of Uzbek railway electrification completed
To the total cost of $82 million
New concept seamlessly connecting rail...
Also internationally valuable
Finnish railway station exposes larges...
Part of Ring Rail Line
Romania to privatise CFR Marfă by end...
Plans to privatise rail freight operator next year
GE delivers 100 locomotives to Angola
Includes services, tools and training
Niagara Falls gets new Train Station
New station expected to open late 2016
ČD introduces additional children’s ca...
A carriage with a specially modified compartment will be included in five pairs of trains
Custom House Crossrail station complet...
New ‘jigsaw’ station pieced together in a year and a day
200 kilometers of railways to be built...
Russian government continues developmenty of Moscow rail infrastructure
Railcare signs multiyear contract with...
Contract includes the supply of three Railvac machines
Last Bombardier Flexity trams delivere...
Fitted out with 100 % low floor technology
TransPennine Express rail extension si...
To implement 'smart' enabled ticket machines
Talgo receives new contract from Saudi...
To supply six high speed trains with 13 coaches
