Schedule and Financing

The Ministry of National Development, Integrated Transport Development Operational Program (IKOP) Development of Sustainable Urban Transport and Improvement of Suburban Railway Accessibility in the Central Hungarian Region for the purpose of establishing the annual development framework for the Integrated Transport Development Operational Program for the year 2015 1844/2015. (XI. 24.) Government of the Republic of Hungary registered the project for the reconstruction of the infrastructure of metro line M3 under the identification number IKOP-3.1.0-15-2015-00001. BKV Zrt. submitted a grant application on 18 December 2015, which was granted by the Ministry of National Development on 11 March 2016, according to the sponsorship decision.

The grant agreement was signed on May 5, 2016, according to which the Sponsor will provide a non-refundable grant for the eligible costs of the project from the Cohesion Fund and the state budget appropriation. The grant awarded to the project amounts to HUF 137.5 billion, the aid intensity is 100% of the eligible costs of the project.

The EU Commission approved the major project grant application for the reconstruction of metro line M3 on 10 July 2018, in Resolution C (2018) Nr. 4457, with an eligible cost of EUR 556 986 062 (approximately HUF 172.7 billion).

Government Decree 1580/2018. (XI. 17.) of the Government of the Republic of Hungary amended Decree 1247/2016 laying down the framework for the annual development of the Integrated Transport Development Operational Program. (V. 18.), and decided at the same time - in addition to the previously granted HUF 137.5 billion grant - to provide additional HUF 80 billion of additional financing, so the modernization is currently worth HUF 217.5 billion. Signing of the Grant Contract happened on the 14th of December 2018 by the Ministry of Innovation and Technology as Sponsor and BKV Zrt as Beneficiary.

The project is scheduled to be completed by the end of 2022.