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Industrials
Size
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Market Cap £247.5m
Enterprise Value £260.7m
Revenue £181.7m
Position in Universe 126th / 646

Hungary says ready to invest 200 mln euros in Slovenia rail project

Thu 6th April, 2017 2:19pm
LJUBLJANA, April 6 (Reuters) - Hungary would be ready to 
invest about 200 million euros in a new railway line between 
Slovenia's sole port, Luka Koper  LKPG.LJ , and the Slovenian 
city of Divaca, Hungarian Minister of Foreign Affairs and Trade 
Peter Szijjarto said. 
    Most companies in landlocked Hungary use the port, on the 
Adriatic, for their sea cargo transport. 
    According to Slovenian government plans, total investment in 
the 27 km line will cost about 1 billion euros.  urn:newsml:reuters.com:*:nL8N1G91SN. 
    "We have been negotiating Hungarian contribution of about 
200 million euros which seems to be realistic but ... details 
have not been clarified yet," Szijjarto told a news conference 
during a visit to Slovenia on Thursday. 
    Three quarters of the new line will run underground. It 
should significantly increase the capacity of the port, which 
lies about 310 km from Slovenia's border with Hungary.  
    Szijjarto said Hungary did not expect to get a stake of Luka 
Koper in return for its investment, saying Slovenia has made it 
clear it plans to keep it in the hands of the Slovenian state. 
    He said, however, Hungary hoped that its companies would get 
a prioritised approach to the port, possibly by a long-term 
leasing or rental contract, while Hungarian companies could also 
get work on the construction of the railway, giving no details.  
    He also said all cargo transport from Koper to Central 
Europe could go through Hungary so that Hungarian cargo firms 
would benefit from the project.      
    Slovenia hopes to cover about a quarter of the whole 
investment with European Union funds while about 350 million 
euros will be raised via new debt. The investment will be one of 
the biggest in Slovenia in the coming years. 
 
 (Reporting by Marja Novak; Editing by Alison Williams) 
 ((Marja.Novak@thomsonreuters.com; +386-1-5058805, Reuters 
Messaging: marja.novak.thomsonreuters.com@reuters.net)) 
 
Keywords: SLOVENIA HUNGARY/
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