MVM and Rosatom establish joint venture
State-owned Hungarian Electricity Works (MVM) has formed a joint venture with Rusatom Service, a unit of Russiaʼs Rosatom, named European Power Services (EPS), Rosatom said on Monday, according to a report by state news wire MTI.
The founders have an equal 50% share in EPS but the company will operate as part of MVM group.
MVM said on its website that EPS will primarily provide development and maintenance services for the safe operation of power plant systems and equipment in domestic and other European markets.
EPS was established with HUF 5 million share capital.
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.