Joint Hungarian-Czech company to produce railway control and signalling equipment

Rail transport and haulage are vitally important for the growth of the Hungarian economy, Foreign Minister Péter Szijjártó said on Thursday, welcoming the launch of a joint company producing control and signalling equipment by Hungary’s V-Híd Építő and Czech market-leader AZD Praha.

Establishment of the Hungarian majority-owned JV V4SIL will not only create jobs but will also guarantee the future supply of skilled workers, he said. Szijjártó said that among the lessons to be learnt from the series of crises that typified recent years is the growing value of rail transport and haulage. During the coronavirus pandemic, supply chains often broke down, but the railways “proved to be crisis-proof”, he added.

The events of the recent period also demonstrated the extent to which vulnerable countries that were unable to keep their critical infrastructure under their own control had become, he said.

He also noted the railways’ favourable environmental aspects, adding that “if we’re able to transfer a large part of transport to railways, then we’ll be able to cut down a significant source of environmental pollution.”

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Source: MTI