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The Korea Herald
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THE INVESTOR
May 25, 2024

Industrials

LX Pantos unveils expansive railway terminal in Hungary

  • PUBLISHED :April 22, 2024 - 09:35
  • UPDATED :April 22, 2024 - 09:35
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LX Pantos' Executive Vice President Auh Jae-hyuk gives a commemorative speech at the LX Pantos' Tata Terminal's opening ceremony held in Hungary, on Friday. (LX Pantos)

South Korean logistics company LX Pantos has opened a vast railway terminal in Tata, Hungary, with aims to bolster its competitive edge in European logistics.

Situated approximately 65 kilometers southwest of Budapest, the LX Pantos Tata Terminal strategically positions itself near Europe’s largest battery production hub. Encompassing an area of around 36,000 square meters, equivalent to roughly five soccer fields, the terminal includes two dedicated rail tracks.

The inauguration ceremony took place Friday at the Mercure Hotel Magyar Kiraly in Hungary, attended by LX Pantos' Executive Vice President Auh Jae-hyuk, Executive Director Roh Seung-hyun and Christoph Grasl, a member of the executive board of Rail Cargo Group, an affiliate of Austrian Federal Railways, along with many others.

"The Tata Terminal not only strengthens our sales capabilities within the electric vehicle and battery sectors but also underscores our commitment to expanding our presence in the European logistics market through innovative and differentiated logistics services," an LX Pantos official said.

LX Pantos secured a decade-long terminal usage rights agreement with RCG subsidiary Logisztar Kft., with an exclusive option for a ten-year renewal.

Hungary, the world's fourth-largest battery production hub after China, Poland and the US, is emerging as the focal point of Europe's growing electric vehicle and battery industry, according to the logistics firm. Consequently, the region is witnessing a considerable surge in logistics demand, necessitating enhanced railway terminal capabilities to address the limitations and capacity challenges of existing facilities.

The blueprint entails linking major inland European cities via the Trans China Railway and introducing a new multimodal transportation service connecting Slovenia’s Port of Koper, a pivotal gateway for Eastern European maritime logistics, to major battery production centers across the continent.

By Kim Hae-yeon (hykim@heraldcorp.com)
The Korea Herald

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