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Samvardhana Motherson Group, an Indian automotive industry supplier, laid the cornerstone on Friday for a HUF 31 billion plant in Kecskemét, central Hungary, national news agency MTI reported.
The plant, which will produce car bumpers, was supported with a HUF 7.7 bln government grant. The government has declared the project to be of primary importance for the national economy, MTI said. The factory, which is being built on a 94,000 sqm plot, is expected to employ approximately 450 people.