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Magyar Alumínium - MÁV Cargo contract extended

Magyar Aluminum (MAL) has extended its contract with MÁV Cargo, the cargo unit of state-owned Hungarian railway company MÁV, for another four years, MÁV Cargo announced late on Thursday. The haulage contract, which was originally signed by MÁV and MAL in December 2003, was modified and extended to December 31, 2010. Last year, MÁV transported 600,000 tonnes of goods for MAL at a cost of Ft 1bn. MÁV Cargo also announced that it would bid together with MAL in a tender to operate the railway terminal of the Gyor-Gonyu port on the Danube. The rail connection for the port, being built with EU grants, will be completed by 2007. MÁV put its cargo activities into MÁV Cargo at the start of 2006.