Business
Having closed the sale of two sea vessels built by Russia for Hungary as part of a state debt consolidation agreement, state shipping company Mahart Rt is looking to complete several major privatization tenders this year, István Vásárhelyi, Vice President of Mahart's owner the State Privatization and Holding Rt (ÁPV) said. Delivered late and initially appearing to be somewhat of a white elephant, Pannon Star and Pannon Sun were eventually bought by a Bahamas-registered of the Clippers Group for USD 13.1 million. Mahart is seeking a strategic investor interested in a concession to operate the Csepel Free Port Rt, as state revenues from the concession could easily reach the same level as if Mahart sold the company. The port is becoming increasingly busy; traffic increased by 30% from 2003 to 2004. (Vg 7) P.P.


