An Elsewedy Electric subsidiary has signed an engineering, procurement, and construction (EPC) contract for Hungary’s largest combined cycle power plant.

The consortium of an engineering and construction company of Elsewedy Electric has been awarded a significant contract for a 500-650 megawatt (MW) combined cycle power plant project in Hungary by the Hungarian Electricity Co. (MVM).

The trade exchange between Egypt and Hungary rose by 16.9% year on year (YoY) to $379 million in 2023, compared to $324 million, Minister of Trade and Industry Ahmed Samir stated.

President Abdel Fattah El-Sisi met the President of Hungary, Katalin Nov?k, at Al-Ittihadiya Palace, where they discussed ways of enhancing joint industry, transportation, tourism, communications, and information technology cooperation, the Egyptian presidency stated.

Egyptian Minister of International Cooperation Rania Al-Mashat has met with the Hungarian Minister of Foreign Affairs and Trade Péter Szijj?rt? to mull promoting localization of the railway industry in Egypt.

Egypt is probing plans to localize the railway industry in cooperation with Hungary’s Ganz-MAVAG.

Egyptian agricultural exports to Hungary grew by 108% year on year (YoY) during the first quarter (Q1) of 2023.