Hungary and Austria sign contract on GySEV.

(From Hungarian News Agency (MTI))

Budapest, July 15, 2005 (MTI-ECONEWS) - State secretaries of the Hungarian and Austrian Transport Ministries have signed an underwriting contract to secure the future of the Gyor-Sopron-Ebenfurt railway company (GySEV), deputy state secretary Zsolt Csaba Horvath told MTI on Friday.

Under the terms of the contract, the current, common Austrian and Hungarian ownership system will remain unchanged in the long term. The capital increase approved in 2004 will go ahead and this will resolve GySEV's liquidity problems and establish a sound basis for development, Mr …