The new system will include 1,000-1,100 bicycles and cover the most densely built-up central part of the city, roughtly bordered by the Nagykorut and flat parts of Buda near the river. The service area will encompass about seven square kilometers, with 60 docking stations in Pest and 13 in Buda. Stations will be dispersed about every 300-400m, a density in line with global best practice.
The cost of the system has been more precisely estimated now: HUF 1.32 billion (EUR 5 million). Based on City Assembly decision on March 31, the system will be installed and managed by the city-owned company Parking Ltd., whose main responsibility is enforcing Budapest parking policy.
Each docking station will have on average 22 bikes and will be installed on road space now used for car parking or on sidewalks. Bicycles will be rented on a self-service basis with bank cards, credit cards, chip cards or mobile telephones. The system will run 24 hours a day, the first 30 minutes will be free-of-charge, and then there will be incremental charging. Testing will begin in June 2011.
A recent article on the system from the Hungarian News Agency is here.