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Hungarian cellulose maker Dunacell is investing 7 billion forints (EUR 19.6m) to expand production capacity at its base in Dunaújváros, in central Hungary, the minister of foreign affairs and trade said on Monday.
The government is supporting the investment, which will preserve more than 150 jobs, with a 1.7 billion forint grant, Péter Szijjártó said.
The investment will see Dunacell expand its capacities to produce powdered dietary fiber, the minister said, adding that the project was set to be completed by May 31, 2023.
Szijjártó said the coronavirus pandemic had caused supply shortages in a number of areas, and the uncertainty had led to severe panic food buying.
“The old dogma that supply chains were putting their trust in internationalisation appeared to be on the way out,” he said. Szijjártó emphasised the importance of self-sufficiency and treating the food industry as a strategic sector.
The output of Hungary’s food industry rose by around 7 percent in 2020 to 3,800 billion forints and saw a 16 percent increase last December to exceed 4,000 billion forints, Szijjártó said.
Featured photo by Szilárd Koszticsák/MTI