Hungary's Ganz Reaches Deal to Modernize Tunisia's Railway Network

Hungarian holding company Ganz has reached an agreement with its Tunisian partner to launch a large-scale railway industry cooperation aimed at modernizing Tunisia's railway network, according to Hungarian Foreign Minister Péter Szijjártó.

The deal, announced by Szijjártó during a visit to Tunis, will involve Tunisian and Hungarian companies working together on tenders worth hundreds of millions of euros to upgrade both the national and suburban rail systems in Tunisia.

Under the agreement, Ganz and its local partner intend to jointly participate in the modernization projects. "Ganz, a Hungarian holding company, has reached an agreement with its Tunisian partner to launch a large-scale railway industry cooperation in the modernization of Tunisia's railway network," Szijjártó stated. He noted that the tenders are expected to be valued in the hundreds of millions of euros range.

In addition to the railway cooperation, Hungary and Tunisia also plan to boost collaboration in other sectors. The parties aim to increase cooperation in the fields of agriculture, food industries, agricultural sciences, and water treatment. As part of the expanding ties, Hungary will raise the number of scholarships it provides for Tunisian students to study at Hungarian universities from 200 to 250 per year.

Why this matters: The railway modernization deal represents a significant opportunity for Hungarian and Tunisian companies to deepen economic cooperation and contribute to the development of Tunisia's transportation infrastructure. The project has the potential to create jobs, stimulate economic growth, and enhance connectivity within Tunisia.

Minister Szijjártó emphasized the importance of the railway industry agreement, describing it as a major step forward in Hungarian-Tunisian business relations. He expressed confidence that the cooperation between Ganz and its Tunisian counterpart will result in successful joint projects that modernize Tunisia's rail network. The increased scholarships for Tunisian students in Hungary are also expected to strengthen educational and cultural ties between the two nations.

Key Takeaways

• Ganz, a Hungarian company, to partner with Tunisian firm for railway modernization
• Tenders worth hundreds of millions of euros to upgrade Tunisia's rail systems
• Cooperation to expand to agriculture, food, water treatment, and student scholarships
• Deal aims to create jobs, spur economic growth, and enhance connectivity in Tunisia
• Partnership seen as major step in strengthening Hungarian-Tunisian business relations