Cornerstone laid for Budapest-Belgrade rail line upgrade
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The cornerstone for the Budapest-Belgrade railway line upgrade was laid in Kiskunhalas on Friday, according to a report by state news wire MTI.
Railways will clearly be in the focus of Hungary's transport development efforts in the next 10-15 years, with the upgrade and capacity expansion of the Budapest-Belgrade line as one of the priority investments, Minister of Innovation and Technology László Palkovics said at the ceremony.
Robert Homolya, CEO of state-owned railway company MÁV said the Hungarian state will finance 85% of the investment costs from credit and the remaining 15% from its own resources.
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