State-owned railway company MÁV announced that it expects to complete its takeover of the operations of the Budapest suburban railway (HÉV) by early 2017.
The metropolitan general assembly approved in August separating the HÉV from Budapest transport company BKV effective Nov. 1 and setting up a new company dubbed BHÉV, with assets solely for operating the suburban railway service.
This will then pass to MÁV via the state. BHÉV is being established with a capital of over 18 billion forints (€58.4m).
MÁV said that it is working closely with the National Development Ministry, the Budapest Transport Centre (BKK) and BKV on the transition.
The estimation of annual costs of operating the HÉV services would fall in the range of 14-15 billion forints (€45.3 – €48.5 million).