Road and Rail
Company Overview of MÁV Magyar Államvasutak Zrt.
MÁV Magyar Államvasutak Zrt., through its subsidiaries, provides railway passenger and freight transportation services in Hungary. The company operates a fleet of passenger transporting coaches, diesel and electric locomotives, diesel and electric railcars, and DMUs. It also provides infrastructure services to railway companies; and handles the operation, maintenance, and renovation of railway networks, as well as offers rail traffic control services. In addition, the company provides IT, human resources, accounting, procurement and logistics, management, work safety, and environmental protection services to third-party clients. MÁV Magyar Államvasutak Zrt. was founded in 1993 and is based i...
Könyves Kálmán krt. 54-60
Founded in 1993
Key Executives for MÁV Magyar Államvasutak Zrt.
Chairman, Chief Executive Officer and President
General Deputy Chief Executive Officer
Head of Department Regulation, Ethics & Risk Management
Economic Deputy Chief Executive Officer
Compensation as of Fiscal Year 2017.
MÁV Magyar Államvasutak Zrt. Key Developments
Government Interested In 10% Stake In Rail Cargo Hungaria
Nov 7 16
Industry insiders have said that plans for a partial re-privatisation of Rail Cargo Hungaria Zrt. are more concrete. The Hungarian government is said to be interested in buying 10% of the company through MÁV Magyar Államvasutak Zrt. Discussions are said to be taking place at government level.
China Railway International Group Co., Ltd, China Railway International and Hungarian State Railways Win CNY 10 Billion Contract to Support Hungary-Serbia High-Speed Rail
Nov 26 15
The governments of China and Hungary have signed an agreement on the development, construction and financing of the Hungarian section of Hungary-Serbia high-speed railway. Under the agreement, a consortium led by China Railway Group (CRG) has been awarded a CNY 10 billion contract to build the 160km Hungarian section of a railway linking Budapest with Belgrade, and will also be responsible for the general management of the project. In addition to CRG, the consortium includes CRG's China Railway International Group (CRIG), China Railway International (CRI), a subsidiary of national operator China Railway Corporation and Hungarian State Railways. Both CRI and CRIG will jointly hold an 85% stake in the consortium. The Chinese firms will finance 85% of the project, while the remaining 15% will come from Hungary. Construction of a high-speed line is scheduled to start this 2015. The project is said to be the first concrete success of the China-Central and Eastern European Countries (CEEC) partnership. The 350km Hungary-Serbia project is expected to be completed in two years. The project is an additional two-track linking line and electrification project of the existing railway, with the designed maximum speed of 200km/h and a designed operating speed of 160km/h.
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