MAV gets funds

TENDERING was due to get under way last month for track and infrastructure work on two of Hungarian Railways’ strategic corridors, following the release of funding by the European Investment Bank. MAV Managing Director Istvan Sipos signed an agreement in Luxembourg on February 24 for a 20-year loan of Ecu60m, part of Ecu120m allocated by the EIB towards an Ecu400m programme to upgrade four lines totalling 340 km during 1998-2001.

First to be tackled are the Budapest - Ujszasz - Szolnok line and parts of the Budapest - Miskolc - Fels