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A new motorway for Hungary
EBRD joins forces with international banks to finance M6
The EBRD is lending €32 million for construction of the new 58-km, €480
million M6 motorway in Hungary, which will run from just south of Budapest to
Dunaújváros. The M6, expected to be open for traffic in spring 2006, will be
the second privately operated motorway in Hungary and will be integrated into
the national vignette (payment) system for motorways.
The M6 Duna consortium which won the tender for the M6 concession consists of
Bilfinger Berger Bot GmbH of Germany and the Austrian construction companies
Porr Infrastruktur GmbH and Swietelsky International GmbH. The consortium has
a 22 years-term concession to design, build, operate, maintain and finance the
first segment of the M6
Bayerische Landesbank, Commerzbank AG, KBC Finance Ireland, Magyar
Külkereskedelmi Bank Rt., Kereskedelmi és Hitelbank Rt. and KfW invited the
EBRD to join the financing of the project. The M6 Duna consortium also
expressed strong interest in the EBRD’s participation, based on the Bank’s
extensive experience of financing and structuring road PPPs in Hungary,
including the successful restructuring of the M5 PPP motorway and the
financing of its extension to Szeged in 2004.
Gavin Anderson, EBRD Business Group Director for Infrastructure, said the
project will set an example for the whole region by showing how well prepared
and properly tendered concessions result in successful projects.
The new M6 will commence at the “érdi tető“ interchange near the M0 Budapest
orbital motorway and will go to Dunaújváros, including the M6-M8 junction and
a small stretch of the M8. The M6 is part of the Trans European Network
corridor V and will ultimately connect Budapest with the Hungarian-Croatian
border.
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