Daily News Hungary economy

Budapest (MTI) – Hungary and Saudi Arabia on Monday signed an agreement in Riyadh on cooperating in the peaceful uses of nuclear energy, the national development ministry told MTI.

The deal envisages an exchange of scientific and technical data, technology, engineers as well as cooperation in research, training and security, the ministry said.

The statement quoted Development Minister Miklos Sesztak as saying at the signing ceremony that the pact was a testament to Hungary’s progress in nuclear energy.

Hungary has for years placed great emphasis on helping countries planning to adopt nuclear energy, the ministry said, adding that the deal is a “milestone” in Hungary’s eastern opening strategy.

The ministry added that MVM OVIT, the power line unit of Hungarian energy company MVM, signed an agreement with structural steel company Arabian International Company on the establishment of a joint venture. The cooperation will give MVM OVIT a chance to participate in future power line tenders in Saudi Arabia, the ministry said.

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

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