Skip to main content

Hungary road construction funding halt from EC

A dispute between the European Commission (EC) and Hungary has halted the flow of funds for road construction projects. The move has seen the EC officially suspending its payments for road construction projects in Hungary. This move means that funding worth €1.15 billion is not being provided. As a result, Hungary is now considering turning to the European Court of Justice to appeal for the funding stream to be revived.
July 21, 2015 Read time: 1 min
A dispute between the 2465 European Commission (EC) and Hungary has halted the flow of funds for road construction projects. The move has seen the EC officially suspending its payments for road construction projects in Hungary. This move means that funding worth €1.15 billion is not being provided. As a result, Hungary is now considering turning to the European Court of Justice to appeal for the funding stream to be revived.

For more information on companies in this article

Related Content

  • Russia plans major infrastructure investment
    May 4, 2012
    The Russian highway authorities intend to invest a massive €16.78 billion (US$24.23 billion) in road construction and repairs during 2011. This investment will come from federal and regional budgets and represents a 40% increase over spending made in 2010. The plans involve repairs to 5,500km of road surface at a cost of €2.11 billion ($3.046 billion).
  • Strabag chief executive promises response to tougher trading conditions
    August 31, 2012
    Strabag chief executive, Hans Peter Haselsteiner, has spoken of the need for the Group to respond to tougher future trading conditions after its half year 2012 earnings fell, as expected, substantially from 2011 levels. New figures published by the Austrian construction giants revealed that its EBITDA was € 16.14 million between
  • Develop the Silk Roads, boost economic growth
    April 12, 2012
    Tony Pearce, honorary life member and former director-general of IRF Geneva, recalls the history of the Silk Roads, highlights their continued economic relevance and introduces IRF's active long-term commitment to their rehabilitation.
  • Europe's smart road pricing project
    April 12, 2012
    New trials pave the way for smart road pricing using Global Navigation Satellite Systems (GNSS). In recent years, the concept of road charging has been gaining acceptability among Europe's policymakers.