MAV-GEPESZET, the maintenance unit of state-owned Hungarian railway company MAV, and Austrian peer OBB TS, on Wednesday signed a contract on the establishment of a joint venture whose main activity will be the upkeep of the rolling stock of Rail Cargo Hungaria, which is also owned by OBB, MAV said on Thursday.
The JV is expected to start operating at the beginning of 2012.
MAV and OBB signed a strategic cooperation agreement at the beginning of December. On Tuesday, MAV unit MAV-TRAKCIO signed a framework agreement with Rail Cargo Hungaria to supply much of the freight company’s traction needs until 2016.
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