MÁV-REC to head consortium supporting China-Hungary rail corridor
Image by Pixabay
Hungarian-owned MÁV-REC signed an agreement with Chinaʼs Central European Trade and Logistics Cooperation Zone (CECZ) to cooperate in the area of railway logistics in Beijing on Thursday, MÁV-REC told Hungarian news agency MTI.
Image: Pixabay
The agreement was signed at the Hungarian embassy in the presence of Minister of Innovation and Technology László Palkovics.
Under the agreement, MÁV-REC will lead a consortium tasked with implementing a rail freight corridor between inland China and Záhony, on Hungaryʼs eastern border, passing through Kazakhstan, Russia, and Ukraine. The agreement extends to training, container management upgrades and the provision of IT solutions.
MÁV-REC noted that China supports the diversification of its inland trade routes to Europe and the Záhony route would be an alternative to the congested Belarusian-Polish line.
MÁV-REC offers its business partners tailored railway logistics services, pallet certification, training, and waste management services.
MÁV-REC had revenue of HUF 1.9 billion last year, public records show.
ADVERTISEMENT
Banks to Draft Lending Recovery Plan
Gov't Extends Deposit Rate Cap Till Year-end
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
