Hungary to grant EUR 20.8mn for Opel expansion project.

By bne IntelliNews April 7, 2011
The local unit of German car producer Opel will receive HUF 5.5bn (EUR 20.8mn) in state support for its EUR 500mn expansion project, MTI news agency reported, quoting economy ministry information. Opel plans to complete by November the upgrade of its engine production plant in Szentgotthard, western Hungary. The investment will boost the plant's capacity by 5.7% to 500,000 units in the mid-term, and will create around 1,000 jobs. Thus, the grant will stand at HUF 6.8mn per worker and, according to ministry estimates, will be repaid in five years.

Related Articles

Assets of Hungarys investment funds up 3.2% m/m in Feb 2013.

Hungary's investment funds had aggregate assets of HUF 3.657tn (EUR 11.98bn) as of end-February 2013, up by 3.2% m/m, MTI news agency reported citing data from the association of investment funds ... more

Hungary's number of employees down 0.6% y/y in Jan 2013.

The number of employees in Hungary's public and private sectors fell for the tenth straight month in January 2013 declining by 0.6% y/y to 2.574mn, the statistics office informed. The decline ... more

Hungarys MVM clears deal for purchasing E.ONs local units.

The assembly of state-owned Hungarian Electricity Works (MVM) has approved the purchase of the local gas business of German power utility E.ON, Hungary AM reported, citing local daily Magyar ... more

Notice: Undefined index: subject_id in /var/www/html/application/controllers/IndexController.php on line 335
Dismiss