Szijjarto: Govt to spend HUF 4,000 bn on road, rail developments by 2022

The Hungarian government will spend 4,000 billion forints (EUR 12.5bn) on developing public roads and railways by 2022 in order to strengthen Hungary's position in logistics, Foreign Minister Peter Szijjarto said on Friday. Some 900 kilometres of high-speed roads will be built from 2,500 billion forints, 55 percent of which will be paid from the central budget and 45 percent from European Union funds, he told an event organised by the Hungarian Export-Import Bank and the Hungarian Export Credit Insurance Company (Exim). A total of 1,500 billion forints will be spent on rail developments which will involve modernising 900 kms of tracks, he added. The developments will extend the length of Hungary's electrified rail network to 3,300 kms, the minister said.