Thanks to historic opportunities and resources, Hungarian agriculture can be fundamentally renewed, Minister István Nagy says.Continue reading
The town of Karcag in eastern Hungary will become the center of Europe in the market for quick-frozen fruit and vegetables, thanks to the capacity expansion investment by AgroSprint Zrt., Finance Minister Mihály Varga announced at the inauguration of the company’s new quick-freezing plant on Tuesday.
Mihály Varga stressed that the government has always believed in supporting those who see opportunities where others see problems. AgroSprint Zrt. has proven through its operation and its development over more than three decades that it lives up to this principle, he added.
Photo: Facebook/Varga Mihály
Hungarian families cannot depend on foreign markets for their food supply, and the government is giving priority to the creation of new food production capacities to reduce the country’s exposure to foreign markets,
he said, adding that the HUF 12 billion (EUR 32.5 mil.) investment in Karcag will not only strengthen the city and the region, but the domestic sector as a whole.
The goal is clear: to safeguard the results achieved through disciplined, frugal fiscal management, Varga said. Hungary recovered quickly without EU funds after the coronavirus epidemic and is showing signs of growing resilience in the current war period, he added. The 28 percent investment rate is one of the best in Europe, reflecting investor confidence in Hungary, the secretary of state continued.
Photo: Facebook/Varga Mihály
The National Investment Agency provided a HUF 4.8 billion (EUR 13 mil.) grant and OTP Bank a HUF 4.5 billion (EUR 12.2 mil.) loan for the agricultural development in Karcag, which was completed in 14 months, with the remaining amount being financed by the company’s own resources. As a result of the recently completed investment, the company is now able to produce a total of 70,000 tons of finished products.
The new 9,500 square meter plant in Karcag is capable of processing 15 types of fruit and vegetables, and its technology is automated. In addition, 20,000 tons of deep-freezing capacity has been created on 6,000 square meters. Several service facilities, including a new biological waste water treatment plant, have also been built; thus, the company has become Europe’s largest producer of frozen sweet corn and has strengthened its leading position among the domestic refrigeration companies.
VIA MTI; Featured photo: Facebook/Varga Mihály