Hungarian waterfowl processing company Hunent will build a HUF 12.5 bln duck processing plant through a greenfield investment in Mélykút, southern Hungary, creating 350 jobs, Minister of Foreign Affairs and Trade Péter Szijjártó said on Monday.
The government is supporting the investment with a HUF 4.4 billion grant.
Hunent Chairman István Kiss said the new plant will increase production capacity and output, and the company could thus become a market leader both in Hungary and abroad. Annual revenues are projected to exceed HUF 20 bln, he added.
In phase one of the investment, by December 2018, a new abattoir building will be built along with a biological sewage treatment plant and a high-capacity automated cold storage facility, Kiss said.
Publicly available data show that Hunent posted revenues from sales of HUF 9.23 bln in 2015, while after-tax profit totaled HUF 104 million.