Official negotiations with the Hungarian Development Bank and the European Investment Bank (EIB) may begin, after the General Assembly of Budapest, in its Wednesday session, supported the BKV to conduct negotiations to prepare a credit limit agreement to finance its developments. According to the plans, this source may be used to complete - ​​among other things - the full accessibility of metro line M2 and the fleet refreshment of metro line M1.

Metro line M2 is the second busiest metro line in Budapest, used by almost 300 thousand passengers daily. Of the 11 stations on the line, 3 are currently accessible – Örs Vezér tere, Pillangó utca, Puskás Ferenc Stadion. BKV has drawn up a detailed plan for the implementation of full-range accessibility. Four stations – Keleti pályaudvar, Kossuth Lajos tér, Széll Kálmán tér, Déli pályaudvar – can be rendered accessible up to the surface by installing inclined lifts. The latter were also used during the reconstruction of metro line M3, completed two years ago; as a result, the company has significant operating experience. At four stations – Blaha Lujza tér, Astoria, Deák Ferenc tér, Batthyány tér – the inclined lift only provides accessibility up to the underground level. At these locations, it is also necessary to build a low-rise lift or a ramp. With these implementations, metro line M2 could also become entirely accessible, similarly to metro lines M3 and M4. In addition to the installation of 8 inclined lifts, the project would also comprise replacing 27 outdated escalators with new, modern, energy-efficient equipments. According to BKV’s calculations, these measures may result in energy savings of around 30-42 percent, equalling 60-90 million forints per annum. The current estimated total cost of the complete accessibility and energy efficiency renovation is around 21 billion forints.

The Millennium Underground Railway (M1) is the first metro line in Budapest, and with its opening in 1896, it was the first underground railway line in continental Europe. Replacing the more than fifty-year-old trainsets has now become essential. BKV has already prepared the documents by which – if the necessary funds for the investment are available – the public procurement procedure for the design, prototype and series production of the new vehicle can be launched. Numerous parameters of the vehicle are recorded in the technical description for the principal and preliminary type approval: the new equipment will be air-conditioned, more spacious, have a greater capacity and be quieter than the current ones. The estimated cost of the project is 45 billion forints.

The General Assembly’s support enables the mayor to initiate formal negotiations with the creditor banks, involving the transport company. Tibor Bolla, CEO of BKV, said after the general meeting: BKV has made the necessary preparations, so we are ready to start the negotiations with financial institutions. Due to the decrease in investment funds, the company has found alternative solutions to implement its planned developments. One of these is the current loan structure.

Provided that, after successful negotiations, the specific loan structure is available to BKV, another general meeting approval and - in accordance with the Economic Stability Act - government permission will be required to obtain the loan.