Forest-Vill, along with Ganz Transformers and Electric Rotating Machines Ltd., has signed an agency agreement with Kuwaiti Industrial Electrical Projects Company (IEPC Co.) on 23 January. The agreement, which will last indefinitely, enables Forest-Vill to carry out maintenance on more than 50 electrical substations that have been installed since the 1970s. Additionally, Forest-Vill will offer advanced energy solutions and cutting-edge technology to industrial players in Kuwait, supporting the country's growing infrastructure needs.
The partnership provides an opportunity for Forest-Vill to bring its expertise in electrical technology to the Middle East region. Under the agreement, Forest-Vill will manage and finance activities through IEPC Co., which will act as the exclusive local agent in line with Kuwaiti law. The conclusion of the agreement and the return of Ganz to Kuwait were both viewed positively by the Kuwaiti partner, ensuring a smooth cooperation moving forward.
“The new cooperation will allow us to enter international markets in line with our long-term plans, starting with the Middle East region. Our joint venture with Ganz now opens a new chapter in our activities, where we will continue to focus on high professional quality, innovation, and efficiency. We hope to contribute to building a sustainable and modern energy infrastructure in the region with our skilled professionals and advanced energy solutions. We would like to take this opportunity to thank the Hungarian Embassy in Kuwait and Ambassador András Szabó for their support in making this cooperation possible," said Csaba Németh, Managing Director of Forest-Vill Ltd.
Expanding Forest-Vill's Capabilities in Energy and Infrastructure Projects
Since its foundation, Forest-Vill has undergone dynamic development, expanding its range of activities. In addition to substation construction, the company is involved in the design, construction, and project management of electrical and energy installations. Currently, Forest-Vill is also constructing two of the country’s largest energy storage facilities, which are expected to be commissioned in the first half of the year.
