Stadler lays cornerstone for train plant in Hungary
Switzerland's Stadler Rail Group laid the cornerstone of a Ft 10 billion aluminum train body plant in the Hungarian city of Szolnok.
The plant will have an annual capacity of 200 train bodies, about two-fifths of the total Stadler makes. Stadler's further investments in Hungary will depend on developments in the region's market.
Stadler won a contract from state-owned railway company MÁV to deliver 30 of its Flirt models, with an option to deliver a further 30, in a much disputed tender in the summer of 2005. The contract for delivery of the units came into force only in March 2006, and MAV launched its first Stadler Flirt-model suburban trains in April 2007. The last train of the order was put on the tracks a year later.
MÁV ordered the first 30 trains for €144.6 million and it announced last December that it will take out a €141.6 million loan from Raiffeisen Bank to pay for the remaining 30 vehicles. Delivery of the vehicles will start in February 2009 and end in the middle of 2010.
Stadler Trains Magyarország CEO Zoltán Dunai said earlier this year that they plan to bid on the upcoming tram tenders to be invited by three large Hungarian cities under the transport operative program of Hungary's seven-year development plan soon. Of the three cities, Miskolc plans to purchase 18 trams, Debrecen plans to buy 19 and Szeged nine trams, Dunai said. (Reuters)
ADVERTISEMENT
Households Make Net Withdrawals in April
Parl't Approves Amendments to Legislation on Judiciary
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.
