Dunaferr to invest around €30 mln in Hungary

Deals

Hungarian steelmaker ISD Dunaferr is planning to make further investments at its plant located in Dunaújváros at the beginning of the next year, ISD Dunaferr Corporate Manager Evgeny Tankhilevich announced on Saturday. The objective of the investment is to strengthen the production of higher value-added products at both its hot- and cold-rolling mills.

Though the precise amount of the investment is not fixed yet, it would likely reach HUF several billions, according to Tankhilevich. The investments will specifically serve the development of manufacturing galvanized steel and other coated products, the corporate manager added.

The previously suspended €20 mln upgrade of Dunaferr’s hot-rolling plant is expected to be finished by the end of the year, and the €10 mln renovation of the blast furnace is set for completion by August 20, the company said.

ISD Dunaferr, based in Dunaújváros, is one of the largest industrial producers in Hungary. A significant part of their sales goes to foreign markets, especially in Germany, Poland, Austria, Czech Republic, Slovakia and Italy.

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