Hungary’s Eximbank begins talks to finance Azeri rail project

Int’l Relations

pixabay

The Hungarian Eximbank has initiated talks on financing a €500 million railway project in Azerbaijan, Minister of Foreign Affairs and Trade Péter Szijjártó said after talks in Baku yesterday, Hungarian news agency MTI reported.

The Azeri government is open to involving Hungarian companies in the construction of the 162 km stretch that would be part of a line running from the Persian Gulf region all the way to Helsinki, as long as Hungary participates in the financing of the project, Szijjártó said. 

The sides at the talks also agreed on a possible cooperation in the area of exploration between Hungarian oil and gas company MOL and Azeri peer Socar, he added.

Agreements were reached on raising the volume of live cattle Hungary exports to Azerbaijan, as well as on the renewal of an order from Budapestʼs waterworks Fővárosi Vízművek to plan and build water reservoirs, he said.

Szijjártó noted that Azerbaijan will start gas deliveries to the West in 2018. Due to economic ties with Azerbaijan and its role in energy security, Hungary is pressing for the establishment of a strategic partnership between the country and the European Union as soon as possible, he added.

Number of Thefts in Capital Edges Higher in 2023 Figures

Number of Thefts in Capital Edges Higher in 2023

Moldovan Pensions to be Increased as of April 1 World

Moldovan Pensions to be Increased as of April 1

Yettel to Wind up Network Upgrade in 2024 Telco

Yettel to Wind up Network Upgrade in 2024

Hungarian Wine Marketing Agency to Host Summit Drinks

Hungarian Wine Marketing Agency to Host Summit

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.