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.

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