A 100,000 square metre China-Europe logistics and trade exchange centre is being developed in Pest County near Budapest by Koeman, a company owned by China's Tonglinada logistics supply chain firm, on land leased from Hungarian firm Nonfungo, reports Rotterdam's Railfreight.
The project is set to receive more that US$30 million in investment and will provide warehousing, distribution, consolidation, bundling, and re-export trade functions.
The initiative has received support from Hubei and Heilongjiang provinces in China and Pest County. The main warehouse structure, supporting facilities, and railway lines are set to be constructed in the first phase, with the centre becoming operational in early 2024.
The facility aims to store and transport over four million tons of goods annually, enhancing Budapest's position as a rail freight hub on the New Silk Road.
Although Budapest is well-equipped for rail freight transportation, its congested network must be addressed by constructing the freight-only V0 railway line.
"The transit time of this route is about seven days faster than the traditional route via Malaszewicze; at fastest, Budapest can be reached within 14 days," said Dimerco China operator Andy Luo.
"In addition, Budapest has a complete railway distribution network. After the goods arrive in Budapest, they can be delivered to Bucharest/Constanza, the port of Koper, Duisburg, and Hamburg within two to three days."