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Chinese-owned Borsodchem to Invest in Kazincbarcika

By admin // 2014.07.15.

Chinese-owned chemical company BorsodChem intends to build a new plant in Kazincbarcika, came the announcement on Monday. The hydrochloric acid condensation plant will cost EUR 84 million (26 billion HUF), of which 3.2 million will come from the Hungarian government.

Chief Executive Officer Chien-sheng Ding and state secretary for foreign affairs and foreign trade Péter Szijjártó announced the investment on Monday as BorsodChem is looking to broaden its portfolio. The investment is expected to create at least 70 jobs, bringing the number of BorsodChem employees to over 2,500.

BorsodChem, now owned by Wanhua group, grew out of a complex of local chemical factories operating in the North of Hungary. In 1963 it built the first PVC plant in Hungary, continually growing with the country and developing technologies and facilities in the Borsod region.

Photo: public domain