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Hungarian companies plan big investments in Angola

Int’l Relations

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Minister of Foreign Affairs and Trade Péter Szijjártó said three Hungarian companies are preparing to make investments in the hundreds of millions of dollars in Angola after a meeting of the Hungarian-Angolan Joint Economic Committee in Budapest on Friday, according to a report by state news wire MTI.

Szijjártó said "one of the most sought after water management companies abroad" will build 13 water purification plants in Angola at a cost of USD 100 million. The plants will provide drinking water for 2 million Angolans, he added.

 A Hungarian security printing company is preparing to set up a USD 140 mln plant in Angola after winning a big contract there, he said.

He added that gas turbines produced in Hungary and earlier delivered to Angola at a cost of EUR 100 mln would soon undergo an overhaul.

Magyar Eximbank is financing all three of the projects, Szijjártó said.

Fielding questions from journalists on the Russian-Ukrainian situation, Szijjártó said "only sober, calm dialogue, based on mutual respect, can lead to resolution". "That's why high-level talks must continue," he added.

He confirmed that the Defense Ministry is in talks on a request by the United States to bring NATO soldiers to Hungary.

Szijjártó said Prime Minister Viktor Orbán will negotiate with Russian President Vladimir Putin on increasing the volume of Russian gas Hungary gets under a long-term delivery contract by 1 billion cubic meters a year at a summit in Moscow in the coming week.

Under the contract, signed last September, Hungary is getting 4.5 bln cubic meters of gas a year from Gazprom, including 3.5 bln delivered from the south, through Hungary's interconnector with Serbia, and 1 bln via the pipeline running from Austria.

Szijjártó said the increased capacity Hungary seeks would come through the southern delivery route.

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