GE looking at jumping into Paks upgrade

Budapest, January 19 (MTI) – General Electric is looking into ways it can get involved in the upgrade of the Paks nuclear power plant, John G Rice, the company’s vice chairman, said on Tuesday.

Speaking at the company’s base in Veresegyhaz, near Budapest, as part of his business visit to Hungary, Rice said GE could produce a turbine island and a generator for the upgraded nuclear plant, adding that the company’s investment would be worth around 1.5 billion dollars.

He said GE and the Hungarian government’s goals are the same in areas such as education, competitiveness and export expansion. He noted that 99 percent of GE Hungary’s 1.5 trillion forints (EUR 4.8bn) in revenue generated in 2014 came from exports.

He said GE is satisfied with the achievements of its bases in Hungary, adding that the company is considering boosting its Hungarian staff. GE currently employs 10,000 people in Hungary.

Rice said that with its acquisition of Alstom’s power and grid businesses, GE could expand Alstom’s power and grid activities in Hungary as well. He said that while the acquisition may result in some jobs disappearing, workers in the French engineering giant’s former power and grid businesses would be offered jobs in other GE factories in Hungary.

The government signed a strategic partnership agreement with GE in 2012.

Photo: MTI

Source: http://mtva.hu/hu/hungary-matters