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DKG-EAST signs agreement with Qatar Holding

Hungary's DKG-EAST and Qatar Holding have signed a memorandum of understanding on establishing a joint venture to make pressure vessels used in the petrochemicals industry, Qatar's Gulf Times reported.

Qatar Holding CEO Mohamed Khalifa Turki al-Sobai said a feasibility study for the JV would be completed before December and construction could finish within one and a half years.

The JV is expected to manufacture pressure vessels such as columns, tanks, piping systems, multicyclons, separators, railways tanks; heat exchangers; air coolers; gas filter and control valves.

The JV is DKG-EAST's first in the region.

DKG-EAST had revenue of about HUF 8 billion in 2007. (MTI – Econews)