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The Hungarian state is providing HUF 1.9 billion (EUR 4.88 million) in support for Suzuki’s new investment in Esztergom (northern Hungary), announced the Minister of Foreign Affairs and Trade, Péter Szijjártó, in Tokyo, reports Világgazdaság.
In the framework of Suzuki’s further investment of HUF 9.3 billion (EUR 24 million) in Hungary, the Japanese company is expanding its production capacity and taking a major step towards the carbon-neutral conversion of its Esztergom plant.
The minister noted that an agreement had been reached with the automotive company on a new development that
will help safeguard future economic growth in Hungary, while reducing emissions in an environmentally friendly way.
“Suzuki is making an investment in its Esztergom production base to expand its capacity and make very significant technological improvements in the fields of digitalization and automation,” he stressed.
He also added that the HUF 9.3 billion (EUR 24 million) investment will include expanding the capacity of the bumper, painting, and welding shops, acquiring high-tech machinery and building a solar power plant.
“This is good news, because in the current global economic environment, all investments should be highly valued, and we are doing the same,” he said. Szijjártó emphasized that
the state will provide HUF 1.9 billion (EUR 4.98 million) worth of support, helping the company to reach a workforce of 3,000 employees in Hungary.
“Here we are taking another big step towards making Hungary one of the strongholds of the European automotive industry in the new automotive era,” he underlined.
Szijjártó then pointed out that Suzuki’s Esztergom plant, which has traditionally been the market leader in Hungary with a 12.5 percent share last year, is the company’s third largest investment. Finally, the minister welcomed the fact that the newly announced development could further strengthen the presence of Japanese companies in Hungary.
Via Világgazdaság, Featured image via Facebook/Szijjártó Péter