Hungarian TUNGSRAM GROUP to launch production of LED street lighting in Kazakhstan

Business Materials 30 November 2020 16:07 (UTC +04:00)
Hungarian TUNGSRAM GROUP to launch production of LED street lighting in Kazakhstan

BAKU, Azerbaijan, Nov. 30

By Nargiz Sadikhova - Trend:

Hungarian TUNGSRAM GROUP, specializing in the development and implementation of lighting systems in various fields, is planning to build an assembly shop for the production of LED street lighting in Kazakhstan, Trend reports citing KAZAKH INVEST National Company.

The projects' implementation was discussed at the 7th meeting of the Kazakh-Hungarian Intergovernmental Commission on Economic Cooperation.

The delegation of Kazakhstan was headed by the Minister of National Economy Ruslan Dalenov, the delegation of Hungary was headed by the Vice Prime Minister - Minister of Finance Mihai Varga.

It was noted during the meeting that TUNGSRAM GROUP is planning to establish a production hub to modernize the national network of smart street lighting, which will be the basis for the implementation of a 5G repeater system.

At the same time, TUNGSRAM GROUP reportedly plans to achieve at least 50 percent of local content. The implementation of this project will significantly reduce energy consumption through the introduction of modern and sustainable solutions in the field of public lighting that support the Smart city concept.

In addition, the company plans to implement an agro-technological project in Kazakhstan to introduce a turnkey greenhouse lighting system, which can make a significant contribution to the country's food security.

During the dialogue, the parties also discussed the current state, prospects for the development of Kazakh-Hungarian economic cooperation and measures taken to restore the economic growth of the two countries, and also exchanged views on the possibilities of expanding investment cooperation.

A memorandum of cooperation was signed between the National Association of Resorts of Kazakhstan and the Hungarian company REX-SAN Medical Equipment Manufacturer and Repair Center on cooperation in the field of healthcare.

As a result of the event, Kazakhstan and Hungary agreed to make further efforts to ensure unhindered mutual trade and exchange information on ongoing and promising projects with the participation of entrepreneurs of the two countries


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