The agreement will also help improve the economy and international competitiveness in the country.
Leveraging Alstom‘s solutions and technological innovations, both parties aim to further work together on the development of the transport industry.
They will also cooperate on the expansion of the Hungarian product range, as well as increasing manufacturing capacity, creating new jobs and offering professional training.
Alstom CEO Henri Poupart-Lafarge said: “I am really pleased by the signature of this Strategic Cooperation Agreement between the Hungarian Government and Alstom.
“It will strengthen the development of Hungary’s railway sector, economy, and international competitiveness. I believe that with this Strategic Agreement signed today, there is much more innovations coming to Hungary, with Alstom.”
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Alstom, which is a crucial employer in Nógrád County, uses the Matranovak site to manufacture bogie frames for various rolling stock, such as high-speed trains, suburban trains, locomotives, and double-deckers.
The company also extended the range of bogie frames at the site. It is also manufacturing a key component for its Coradia iLint hydrogen-powered train, which began commercial service in 2018.
The Matranovak site currently employs around 650 people.
Furthermore, the firm’s 27 Traxx locomotives are currently operating in Hungary. It also upgraded 59 MÁV-Start trains to attain a top speed of 160km/h and achieve the European standards for ETCS board equipment.