Semcorp to set up HUF 65.5 bln plant in Hungary
Semcorp Global
Shanghai-based Semcorp, which makes separators for electric vehicle batteries, will set up a HUF 65.5 billion plant in Debrecen, Minister of Foreign Affairs and Trade Péter Szijjártó said today according to a report by state news wire MTI.
Semcorp facilities in Zuhai, China. (Image by Semcorp Global)
The government is supporting the construction of the lithium battery isolation membrane plant, which will create 440 jobs, with a HUF 13 bln grant, Szijjártó said.
The 100,000 sqm plant will be Semcorpʼs first outside of China, he added.
The minister said Semcorp had picked Hungary over three other European countries competing to become the site for the new plant.
The investment will bring total Chinese FDI in Hungary to more than USD 5 bln. Chinese-owned companies employ more than 15,000 people in Hungary.
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