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Slovakia, Hungary sign agreement on new electricity connections

Xinhua, March 2, 2017 Adjust font size:

Slovakia and Hungary introduced two new cross border links of electricity networks after an agreement was signed here between two sides on Wednesday.

"The signing of this agreement and the subsequent building of two cross-border links will double the existing capacities between Slovakia and Hungary," stressed Slovak Economy Minister Ziga.

The overall investment will exceed 80 million euro (84 million U.S. dollars). Slovak Finance Minister Peter Kazimir described the agreement as one of the most significant investment operations by a Slovak state company in recent years.

Meanwhile, Hungarian Foreign Affairs Minister Peter Szijjarto praised the move as a contribution towards boosting the two countries' competitiveness.

"By connecting the two countries at two points, we'll increase the security of energy supplies in both countries. The integration of markets could also help us to reduce electricity prices," said Szijjarto. Enditem