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24 Mar, 2016 07:43

Russia & Hungary talk joint rail car production

Russia & Hungary talk joint rail car production

Russia’s Trade Ministry has announced it is negotiating with Budapest to begin the joint production of Russian rail cars and trams in Hungary.

During a visit to Hungary Russian Trade Minister Denis Manturov met with the Minister of Foreign Affairs and Trade Peter Szijjarto and Prime Minister Viktor Orban.

 "We discussed in detail the issue of joint production of Russian rail cars, including metro train cars, passenger cars and trams,” Manturov said, adding that the Russian rolling stock builder Transmashholding and Hungary’s Dunakeszi took part in the discussions.

According to the Russian Trade Minister the project includes supplying machinery to Hungary and Eastern Europe.

“At present we are considering the possibility of making joint bids in tenders in the Middle East and North Africa, including Egypt,” Manturov added.

Russia and Hungary have close industrial ties in transport, electrical engineering and pharmaceuticals, according to the minister.

READ MORE: Hungary hungry for Russian gas even if Ukraine transit stops

Last month, Russian President Vladimir Putin and Hungary’s PM Viktor Orban signed several deals during a meeting in Budapest. Putin said Russia sees Hungary as a strategic partner and will pursue mutually beneficial energy projects, while Budapest is striving for cooperation with Moscow.