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Hungary, Slovakia inaugurate oil pipeline after $80 mln renovation

Hungarian Prime Minister Viktor Orbán and his Slovakian peer Robert Fico today inaugurated a section of the Friendship I oil pipeline following an $80 mln renovation, which was flagged as an investment of "extraordinary significance" by both prime ministers, as it would increase security of crude supply to the region, Hungarian news agency MTI reported today.

The renovation of the 128km-long stretch of pipeline will increase bidirectional cross-border capacity between Hungary and Slovakia to an annually 6 million tons from the current 3.5 million tons.

The project was undertaken by Hungarian oil and gas company MOL and Slovakia's Transpetrol. It will allow MOL's Slovakian unit Slovnaft to tap supplies from the Adria pipeline, which is connected to MOL's refinery south of Budapest.