Budapest Keleti station

HUNGARY: IT, logistics and energy company Acemil has signed a co-operation agreement with CRRC Zhuzhou Locomotive Co covering the purchase of locomotives and the joint establishment of production capacity in Hungary.

The parties have agreed to set up four joint centres in Hungary in the fields of rail vehicle manufacturing, maintenance, railway professional education and research and development.

Acemil also revealed on May 10 that it had previously concluded an agreement with CRRC Shandong Co for joint wagon assembly and manufacturing in Hungary.

The announcement followed Chinese President Xi Jinping’s meeting with Hungarian Prime Minister Viktor Orbán in Budapest on May 9 at which they agreed to include Hungarian rail schemes in the list of infrastructure projects covered under China’s Belt & Road Initiative.