During his visit to Beijing this February, Hungarian Prime Minister Viktor Orbán concluded an agreement on the construction of a high-speed rail line from Budapest to Belgrade and about the so-called V0 rail cargo line bypassing Budapest. Both projects would be built by the Chinese State Railway Company and co-financed by the China Exim Bank and the Hungarian Development Bank. As BBJ has learned, the total value of the enterprise would amount to nearly $3 billion.
“The financial plan of the Budapest-Belgrade railway line has been completed. The experts have been working on the technical details since the end of February, so that Serbia’s Prime Minister Ivica Dačić and Premier Viktor Orbán can sign the treaty,” Péter Szijjártó, state secretary of foreign trade and commissioner of Hungarian-Chinese relations has declared.
The existing railway line between Belgrade and Budapest needs to be expanded and modernized. Some 334 km of the existing 374 km line has to be converted into a two-track, high-speed electrified railway route. (BBJ)