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He has been trying for years.
to reunite the Hungarian state with a large railway investment in Egypt. THE
The winner of the project will be able to transport 1,300 more wagons to Egypt.
for a hundred billion forints.
The investment was originally a
won by a consortium led by the Hungarian Ganz, but for its implementation by the state
the company would have needed credit. Payment for this was first made by
State-owned Eximbank, however, later withdrew its support and Ganz
he got behind his Russian competitor. The order is made by Exim with the help of Russian Transmashholding
(TMH), its Hungarian subsidiary, Transmashholding Hungary Kft.
In recent months
Project preparation has been accelerated. In parallel, more and more
An interesting man, linked to politics, appeared around the company that won the investment.
A Transmashholding
Kristóf Szalay-Bobrovniczky used to shop in Hungary last summer
Hungarian Ambassador to London Árpád Habony, Prime Adviser to the Prime Minister
business partner. Szalay-Bobrovniczky established a company shortly before the store in Hungary
Vagon Befektetési Vagyonkezelő Zrt. Acquired a 50 percent stake
in the company that won the contract in Egypt. Transmashholding Hungary is another
He was still the owner of the Russian side.
Now at the end of April interesting changes took place in Szalay-Bobrovniczky
company. Gabriella Halkó, whose former partner, Jáksó, joined the board
Radio and television presenter László has a good relationship with Habonny. Silent and
The Jáksó joint venture borrowed paintings from the Museum of Fine Arts, which
they were housed in an apartment also used by Habony. The same company, when it’s silent
he was just an executive: Habony’s ex-wife
I also rented a luxury car.
He joined the Szalay-Bobrovniczky council
György Bacsa, the son of Zsolt Hernádi’s cousin and one of Mol’s
Last year’s statement quoted as the director of business development for the oil company.
Direkt36 previously showed that Hernádi operates with EU funds
Granac Equity, its fund manager, supported Bacsa with hundreds of millions of forint
company. This has been done through an EU program aimed at innovation.
Relative of Hernádi de las Fuentes
Little innovative real estate transactions.
With Halko and Backa at the same time.
Zsolt Komondi, one of Hernádi’s fund managers, also became a member of the Board.
Leader. Former Minister of Development Tamás Fellegi, Chief of Cabinet
He was with whom he currently works with EuroAtlantic Capital Zrt.
Halkó wrote to Direkt36 that he had known Szalay-Bobrovniczky for a long time,
took office at his request. There is a greater connection between the two.
dot means that in April this year Andy Vajna is a former casino operator
He was also included in the management of his company, of which he is one of the new owners.
He became Szalay-Bobrovniczky.
We contacted Szalay-Bobrovniczky, Bacsa and Komondi
Also, they haven’t answered our questions yet.
All details are bank secrets.
Szalay-Bobrovniczky ten days later expanded the
The company’s board of directors that the Russian TMH announced in a statement: has entered into force
Financing the purchase of railway cars for Egypt
agreement.
This is key to your business.
shows that the financial history of the project is assured. Kirill
According to the announcement, Lipa, CEO of TMH, said that
The Egyptian order is one of the most important projects of the group, the Russian-Hungarian contributes
and to develop Russian-Egyptian bilateral relations and expand Russia
international presence of companies.
By the Russians
The financing agreement was signed in December last year.
Stakeholders It is a fairly complex construction, with various details.
It is unclear at this time.
All you can know is that
for the purchase of railway wagons by the Hungarian Ministry of Foreign Affairs and Trade
under the control of Eximbank and the Russian Roseximbank make loans to Egypt
State railways. The loan is granted by Hungarian and Russian state institutions.
sure. However, it is not possible to know the proportion of
acquisition by Hungarian and Russian banks. This is an important topic because it is
could show the proportion of investment in charge of hundreds of billions
charge for the Hungarian state bank and the Russian side.
The Hungarian government stated that
provided conditional participation in eximbank that 1,300 wagons had more
More than half is made in Hungary. According to Eximbank, this means that 674
The wagon must be of Hungarian origin. According to the law, one
the country of origin of the product is determined based on where it went
last substantial job, financially justified. “This is true even if
for example, Russian-made rail cars would be installed in Hungary
together. And that is not clear about the agreement that has been made public so far.
based on information about the jobs in which Hungarian companies will be able to participate
and how much of the investment can they make.
We asked in January
Eximbank on the ratio of Russian and Hungarian co-financing,
what will be the participation of Hungarian suppliers and is expected with the project
Development of the production capacity of Hungarian vehicles. We ask him about it
also how much will the loan to Egypt cost the Hungarian state. the
Exim citing bank secrecy did not reveal details, overall
it was written that “with the resulting investments, Hungary will become the manufacturer of rail vehicles
world map of the industry “.
Hungarian company instead of politics figures close
The egyptian railway
In 2016, the tender was originally led by Hungary’s privately owned Ganz.
the consortium won, but the Hungarian government withdrew at the last minute
behind them and rather a group established under the leadership of its Russian competitor
state loan guarantee (Direkt36 wrote earlier about this change).
This made Ganz’s offer impossible and included the company’s Russian competitor, TMH.
position.
It was established by TMH in 2016
its Hungarian subsidiary, Transmashholding Hungary Kft., has only 3 million
with subscribed capital of HUF. The Egyptian side in September 2018 with this company a
hired for the big investment. Interviewed by Direkt36, state
experts unfamiliar with the financed export transactions called it incomprehensible,
Why with this order of more than 300 billion forints this small company?
confident Such projects require a guarantee of more than ten years.
to the various components, so it would have made more sense if the
The contract is entered into directly with the manufacturer, a source said.
Transmashholding signing the contract
Figures close to politics gradually appeared around Hungary. The registry court
According to the documents, the company’s legal representative became the Illés Géza Márton law firm.
The Illés law firm represented several companies, including Viktor Orbán.
His former adviser, András Tombor, appeared.
Also close
Szalay-Bobrovniczky, co-owner of Habony in Transmashholding Hungary.
The two men previously worked together for a company called Adriatiq Islands Group.
Habony regularly visited the analytical institute near the government, the
Also for the turn of the century group, where Szalay-Bobrovniczky held a higher position.
Another connection point between them is called V4NA, which is sympathetic to the Hungarian government.
International News Agency, published by Szalay-Bobrovniczky, a
and one of the Habony companies later acquired a stake in the company.
We use Opten’s services for Hungarian company data.
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