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Hungarian-Chinese group to build Budapest-Belgrade rail line

Christian Fernsby ▼ | June 23, 2020
A consortium of Hungarian and Chinese firms have secured a nearly $2.1bn contract to build and upgrade a section of Budapest-Belgrade rail line.
Budapest-Belgrade rail
Train   Budapest-Belgrade rail
The contract if for CRE Consortium, 50% of which is owned by RM International, a unit of Hungary’s Opus Global.

Topics: Hungarian Chinese Budapest Belgrade rail

The remaining 50% of the consortium held by China Tiejiuju Engineering & Construction and China Railway Electrification Engineering Group (Hungary), representing China’s state railways company.

The scope of the project includes building the 150km-long Hungarian stretch of a rail link between Budapest and Belgrade.

According to a Reuters report, the overall project includes upgrading the existing rail line and construction of the new line.

As part of China’s One Belt, One Road initiative, the line will serve as a key freight link once complete. It will transport Chinese goods that arrive at the Greek port of Piraeus to various other places in Europe.

The rail line is expected to reduce travel time between Budapest and Belgrade from th eight hours to less than four hours.