Contract for Budapest-Belgrade rail line planning, implementation concluded

The contract for the planning and implementation of the upgrade of the Hungarian section of the Budapest-Belgrade rail line has been signed, according to a holding company involved in the deal. Opus Global said in a statement on Wednesday that the contract was signed by CRE consortium formed by China Tiejiuju Engineering and Construction Ltd. representing the Chinese rail company and China Railway Electrification Engineering Group (Hungary) Ltd., and RM International Ltd., each with a 50 percent share. Opus has a 51 percent share in RM International and targets revenue of 295 billion forints (EUR 919m) from the investment.