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4 clusters · 34 sources · 22 days · First seen about 2 months ago · Last updated 29 days ago

Hungary terminates 23 trillion forint highway concession

Overview

The Hungarian government is moving to terminate the 35-year highway concession agreement valued at approximately 23 trillion forints. Prime Minister Péter Magyar announced that the business interests of Lőrinc Mészáros and László Szíjj, operating through MKIF Magyar Koncessziós Infrastruktúra Fejlesztő Zrt., have accepted the decision to end the contract. The government intends to initiate criminal proceedings following the termination.

Minister of Transport and Investment Dávid Vitézy has provided economic justifications for the takeover, stating that state management could reduce highway operation and maintenance costs by “53 percent” and perform major maintenance tasks “61 percent more efficiently” than the current concession model. The government maintains the previous contract was unlawful and overpriced.

In a related development, the Ministry of Transport and Investment signed an 11-year operating contract for the M6 motorway section between Érdi-tető and Dunaújváros, valued at 44 billion forints. This contract was awarded to the existing concessionaire that has operated the stretch for two decades. Minister Vitézy stated this decision results in a 105 billion forint saving compared to a previously planned 149 billion forint arrangement, which the previous administration had intended to award to MKIF Zrt. at a significantly higher cost.

Furthermore, the Budapest Police Headquarters is investigating allegations of breach of trust related to the motorway’s operation.

Entities

MKIF Magyar Koncessziós Infrastruktúra Fejlesztő Zrt. · Dávid Vitézy · Lőrinc Mészáros · János Lázár · M6 motorway

Claims

What the coverage asserts, and how many sources carry each claim.

[● 5 SOURCES] The government is terminating a 35-year motorway concession agreement.
[● 2 SOURCES] The government is seeking a mutual agreement to terminate the MKIF Zrt. concession.
[● 3 SOURCES] The full 35-year concession could cost taxpayers approximately HUF 23,196 billion in nominal terms.
[● 3 SOURCES] The M6 motorway maintenance could be performed for HUF 44 billion instead of HUF 149 billion.
[● 3 SOURCES] The government has filed criminal complaints regarding the M6 motorway operating rights.
[● 3 SOURCES] The state could operate and maintain highways 53 percent more cheaply without MKIF Zrt.
[● 3 SOURCES] Major maintenance tasks could be performed 61 percent more cheaply under state management.
[● 3 SOURCES] The government intends to terminate the contract and initiate criminal proceedings.
[○ 1 SOURCE] The government aims to return motorway network operations to the state.
[○ 1 SOURCE] The Mohács Bridge project will continue construction, but the two-by-two lane expansion is being withdrawn.
[○ 1 SOURCE] MKIF Zrt. is currently in negotiations with the Ministry of Transport and Investment regarding the concession.

Timeline

29 days ago

[BUSINESS] 16 sources
Hungary to terminate 23 trillion forint highway concession
The Hungarian government is terminating a 23 trillion forint highway concession with MKIF Zrt., aiming for significant cost savings and initiating criminal proceedings.
30 days ago

[BUSINESS] 3 sources
M6 motorway operating contract signed for 44 billion forints
Hungary has signed an 11-year, 44 billion forint operating contract for the M6 motorway, a move the Ministry claims will save the state 105 billion forints compared to previous plans.
about 2 months ago

[POLITICS] 19 sources
Hungary terminates HUF 23 trillion motorway concession
Hungary is terminating a 35-year motorway concession with MKIF Zrt., alleging the HUF 23 trillion deal was a corrupt arrangement. The government also announced a 20,000 forint diesel subsidy for motorists.
about 2 months ago

[POLITICS] 4 sources
Minister Dávid Vitézy alleges M6 motorway overpricing and files prosecution report
Minister Dávid Vitézy has filed a criminal complaint alleging a 105 billion forint budget loss due to the overpricing of M6 motorway operations, citing documents signed by János Lázár.

Sources

168.hu · 24.hu · alon.hu · blikk.hu · budapestkornyeke.hu · dailynewshungary.com · demokrata.hu · economx.hu · eduline.hu · femina.hu · figaro.postr.hu · forbes.hu · g7.hu · hang.hu · hir.ma · hirklikk.hu · hvg.hu · index.hu · kecskemet365.hu · klubradio.hu · kontroll.hu · kuruc.info · liner.hu · magyarnarancs.hu · magyarszo.rs · mav-start.hu · mfor.hu · novekedes.hu · pesti-divat.hu · privatbankar.hu · sikerado.hu · szabolcsihir.hu · toysforlife.co.nz · transtelex.ro

This summary has been updated 8 times: see revision history