“Hungarian rail vehicle manufacturing has received its largest ever order from Egypt’s national railway company; this is the greatest ever result in the history of Hungarian-Egyptian economic cooperation”, Minister of Foreign Affairs and Trade Péter Szijjártó declared on Thursday in Cairo.

In a statement to Hungarian news agency MTI, Mr. Szijjártó said the Egyptian railway company will be replacing roughly one-third of all the railway cars it currently uses, and the related tender has been won by a Hungarian-Russian consortium, as a result of which Dunakeszi Járműjavító Ltd. will be manufacturing 674 railway cars over the next three years. “We are talking about an order worth roughly one billion euros, of which over half will be flowing into the Hungarian economy”, he said, adding that Hungary’s Eximbank will be providing a loan to the Egyptian state to help fund the investment project.

The Minister also said that negotiations are underway with relation to the further expansion of cooperation between the two countries, for instance concerning the shipment of locomotives, as well as the training of Egyptian railway engineers and experts in Hungary.

During his visit to Cairo, Minister of Foreign Affairs and Trade Péter Szijjártó will be meeting with, amongst others, the Egyptian Foreign Minister, Minister of Transport, and Minister of Trade and Industry.

(Ministry of Foreign Affairs and Trade/MTI)