Hungarian companies modernise a major part of Kuwait's electricity network

The Forest-Vill Kft. and Ganz Transzformátor- és Villamos Forgógépgyártó Kft. jointly owned by GTVF Export Fejlesztő Kft. have signed a contract with Kuwaiti company Industrial Electrical Projects Company (IEPC Co.) to maintain, upgrade and replace more than half a hundred substations installed in the Middle East country since the 1970s, the parties said on Wednesday.

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The open-ended contract, signed at the end of January, will see GTVF Export Fejlesztő Kft. provide advanced energy solutions and state-of-the-art technology to Kuwaiti industry for the long term, which will also facilitate Forest-Vill's expansion in international markets.

Under the agreement, Forest-Vill will manage, coordinate and finance the activities, while IEPC Co. will provide the local legal and business conditions.

They started in Budaörs, and in ten years they have reached the Persian Gulf

The statement quotes Csaba Németh, CEO of Forest-Vill Kft., who said.

The agreement opens a new chapter in the company's activities, with the cooperation with Ganz ensuring its presence in international markets, starting with the Middle East region, in line with its long-term plans.

Founded in 2015, Forest-Vill, based in Budaörs, Hungary, is engaged in the design, construction and project management of electrical and energy facilities, in addition to substation construction. The company, which employs 200 people, specialises in industrial power distribution, high and medium voltage transformer stations, reconstruction and construction of high voltage networks, as well as the construction and reconstruction of low and medium voltage networks.

The 100 percent Hungarian-owned Ganz Transzformátor- és Villamos Forgógépgyártó Kft. manufactures customized high-voltage electrical equipment - transformers, motors and generators - at its manufacturing facility in Tapiióscel, Hungary, and provides comprehensive service and digital solutions to its Hungarian and international customers, employing 600 people.

Foam illustration, Glen Canyon substation Arizona US 2018, CC BY-SA 2.0