At its meeting on Monday, Prague City Councilors approved a borrowing agreement with the Railway Administration to facilitate modernization of the railway line between Bubny and the Exhibition Grounds. In total, the Railway Administration will save more than 150 million crowns for occupying the land. The city has waived the rent as it had previously declared support for the plan to modernize the line between Prague and Václav Havel Airport and the Railway Administration has also promised to repair some of the city-owned roads along the line. The land will be available to the organization on loan approximately from mid-April until the end of next year.
The capital city will let the Railway Administration use parts of the roads Bubenské nábřeží, Bubenská, Strojnická, and U papíren from mid-April to the end of 2024 to enable a project to modernize the railway line connecting Prague-Bubny and Prague-Exhibition Grounds. The area spans 14,112 square meters.
The modernization of the railway track between Bubny and the Exhibition Grounds is currently the largest infrastructure construction project underway with the state, not Prague, as the investor.
The decision by the City of Prague will save the Railway Administration part of the costs of the construction. Had the city not not lent the land for free, the Railway Administration would have to pay a rent totaling CZK 150,081,120.