The modernization of Budapest – Belgrade railway line could begin this year, after Hungary and China sign the intergovernmental agreement and a financing deal on the project, Minister of Foreign Affairs and Trade Péter Szijjártó said.
This week, the workgroup formed by the three involved countries, Hungary, Serbia and China, held the third session on upgrading project. According to the minister, the two required agreements could be signed by October 31. China will submit a financing offer by August 15, which will have to be more favorable than market conditions, the minister said.
On the Hungarian territory the 166-km line is estimated at HUF 472 billion (EUR 1.5 billion). The double-track and fully electrical line will accommodate even the largest freight trains, while passenger trains could travel the line at 160 kph. Construction is expected to take 2 to 2.5 years, Szijjártó said.