A new start for the Hungarian railway industry? Hungarian-made wagons to run in Egypt! – video

The Dunakeszi Járműjavító Ltd has new owners, and their goal is to modernise the company and make it the market leader in the Central-European railway industry.

Lipa Kirill, the CEO of the Transmashholding Group, which has 50 pc of the Ltd’s shares, told the Hungarian News Agency that they need an investment worth tens of millions of EUR, VG reported. He added that it depends on the contracts what they will produce and how many people they can employ. However, provided that there is a demand on the market, the number of their employees might rise steeply.

The other owner of the Dunakeszi Járműjavító Ltd is the Magyar Vagon Ltd (MA-VAG) led by Kristóf Szalay-Bobrovniczky, who told MTI that the development of the Ltd

can add a lot to the Hungarian GDP

because it might attract further subcontractors to come to the country. 

Lipa Kirill’s Russian group is currently employing more than 100 thousand people, and Mr Kirill said that they would like to enable their Dunakeszi plant to produce not only railway wagons but also electric and diesel locomotives or subway cars. For that, they need tens of millions of EUR to improve the quality of their products and to widen their portfolio.

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He pointed out that the TMH Hungary Ltd would produce 1,300 railway wagons for the Egyptian National Railways (ENR), and the deal is worth more than 1 billion EUR. He also added that the Dunakeszi plant would make 680 of them.