ŽSR has received a preferential loan from SIH

ŽSR has received a preferential loan from SIH


Bratislava, December 12, 2022 - The Slovak Railways (ŽSR) has received a long-term preferential loan from Slovak Investment Holding (SIH) for almost € 13 million. The amount is earmarked for the reconstruction project of the Košice railway station, which is currently under implementation. After the modernisation is completed, the station in the eastern metropolis will be the most modern in Slovakia.

SIH is financing the project with € 12,774,000, divided into three tranches in the form of a long-term preferential loan. The first tranche of € 5 million has already been executed. The deadline for receiving the second tranche of the same amount is the end of 2022.

"Railways are still struggling with investment debt on infrastructure and would need to allocate more funds from the state coffers. However, at the same time, in 2022, we are registering the most started investment projects in their modern history. Financing through a loan from Slovak Investment Holding is very advantageous for the Slovak Railways and is another way to obtain financial cover. The financing will be used to reconstruct Košice station, which will meet the requirements of the 21st century. Disabled passengers or mothers with children will appreciate the barrier-free access and lifts", said Jaroslav Kmet', State Secretary of the Ministry of Transport and Construction.

"With this investment, Slovak Investment Holding has deepened its excellent cooperation with the Ministry of Transport and Construction and the organisations under its jurisdiction, which dates back practically to the establishment of SIH in 2014. We can jointly confirm that financial tools also have their place in the transport field. SIH's investment in the construction of the D4R7 motorway bypass was one of the first cases of its use in this area in the whole EU. Ex-ante analysis has confirmed the investment debt in the railway and road infrastructure. We are glad that we can help ŽSR reduce this gap to some extent. At the same time, the funds will gradually be repaid, whereby they remain the property of the Slovak Republic to be reused to support projects in the transport field We look forward to using modern, 21st-century infrastructure when we travel to eastern Slovakia for work", said Peter Dittrich, Investment Director and Vice-Chairman of the Board of SIH.

Thanks to the reconstruction of the station in Košice, travelling in comfort and the safety of passengers will increase significantly. In addition, modifications to station safety equipment, the platforms' metal structures, and the reconstruction of external lighting will all contribute to the overall comfort and safety levels. Passengers will also have wheelchair access and new lifts. 

"The extension of the platform edge at track 8 by 140m has been completed. Tearing up tracks 7 and 9 is complete; track 9 is currently being rebuilt, so this track is already being laid. Work is underway on platform 2 and adjacent tracks; demolition work has been carried out on platform 2 and is currently being rebuilt with access for disabled passengers. The reconstruction of the electrical installations in the pedestrian underpasses is also in progress", said Miloslav Havrila, Director General of the Slovak Railways, on the state of the ongoing reconstruction.

Reconstruction of the Košice railway station infrastructure started in September 2021 and is expected to be completed by the end of 2023. 


What will the reconstruction of Košice station bring?

Platform lighting, electrical wiring related to lighting, wiring located on platforms, lighting control, modification of station security equipment, and the upper part of tracks 1, 3a, 5, 6, 7, 8, 9 and 11 will also be reconstructed. Underpasses in Košice railway station will be insulated.


About ŽSR - Infrastructure Manager

ŽSR is the infrastructure manager, and according to the law, it is the railway track operator in Slovakia. The aforementioned implies an obligation to provide and operate national and regional railways and to organise transport on these railways for all transport operators per the transport policy of the state, without any discriminatory restrictions. In its portfolio, ŽSR manages railway lines (normal, wide and narrow gauge), catenary lines, railway tunnels and bridges, railway crossings and railway stations.

About Slovak Investment Holding (SIH) 

SIH is a 100 % state-owned joint stock company. Its primary mission is to support strategic public and private investments in Slovakia in the areas of infrastructure, energy efficiency, waste management, social economy, small and medium-sized enterprises, and cultural and creative industries. It draws funds for the implementation of investments from the European Structural and Investment Funds. SIH finances projects exclusively in a repayable form, i.e. through financial instruments and not through grants.