Hungary and Vinci Join Forces to Buy Budapest Airport
Hungary has teamed up with French construction giant Vinci SA to purchase Budapest Airport, the largest airport in the country. The move is part of a larger effort to modernize the country’s infrastructure and make it more competitive in the global market.
Background of the Deal
The Hungarian government has been looking for ways to upgrade its infrastructure for some time. In 2019, the government announced a plan to invest €1.2 billion in the country’s airports, with the goal of making them more competitive in the global market.
The government’s plan was to purchase Budapest Airport, the largest airport in the country, and then to modernize it. The government had been in talks with several potential buyers, but it was Vinci that ultimately won the bid.
Vinci’s Plan for Budapest Airport
Vinci’s plan for Budapest Airport is to invest €1.2 billion in the airport over the next five years. The money will be used to upgrade the airport’s infrastructure, including the construction of a new terminal, a new runway, and a new control tower.
The new terminal will be able to accommodate up to 20 million passengers per year, making it one of the largest airports in Europe. The new runway will be able to accommodate larger aircraft, and the new control tower will be able to handle more air traffic.
Benefits of the Deal
The deal between Hungary and Vinci is expected to bring a number of benefits to the country. For one, it will create thousands of jobs in the construction and aviation industries. It will also help to attract more tourists to the country, as the upgraded airport will be able to accommodate more flights.
The deal is also expected to boost the country’s economy. The upgraded airport will be able to handle more flights, which will lead to more revenue for the country. Additionally, the new infrastructure will make the country more attractive to foreign investors, which could lead to more investment in the country.
Criticism of the Deal
The deal between Hungary and Vinci has not been without its critics. Some have argued that the government should have put the money towards other projects, such as improving the country’s healthcare system or investing in education.
Others have argued that the government should have put the money towards other airports in the country, rather than just Budapest Airport. They argue that the money could have been used to upgrade other airports, which would have helped to spread the benefits of the deal more evenly across the country.
The Future of Budapest Airport
The deal between Hungary and Vinci is expected to be finalized in the coming months. Once the deal is finalized, Vinci will begin the process of upgrading the airport’s infrastructure. The upgrades are expected to be completed by the end of 2025, at which point Budapest Airport will be one of the most modern airports in Europe.
The upgraded airport will be able to accommodate more flights, which will lead to more revenue for the country. Additionally, the new infrastructure will make the country more attractive to foreign investors, which could lead to more investment in the country.
Conclusion
The deal between Hungary and Vinci is a major step forward for the country. The upgraded airport will be able to accommodate more flights, which will lead to more revenue for the country. Additionally, the new infrastructure will make the country more attractive to foreign investors, which could lead to more investment in the country. The deal is expected to be finalized in the coming months, and the upgrades are expected to be completed by the end of 2025.