Hungary to back EUR 10m solar project in Oman

• The Hungarian government will certainly support the building and construction of a solar plant in Oman with investment expenses estimated at EUR 10 million (USD 11.28 m).

A deal was signed on Wednesday during a see of Hungary's Minister of Foreign Affairs as well as Trade Peter Szijjarto to the sultanate, state-owned Oman News Agency ONA said.

More details about the solar project were not revealed.

At a joint interview with Oman's Foreign Minister Sayyid Badr Al Busaidi, Szijjarto stated that the financial relations between both nations are based on the strategic teamwork between the Oman Oil Marketing Company and Hungary's oil as well as gas significant MOL (WSE: MOL) and currently companies from the European nation will obtain involved in Oman's renewables sector.

During the check out, government officials of both countries held meetings to talk about collaboration in the location of power, trade, higher education, tourist and also financial investment in renewable energy.