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Local opposition kills plan for Homatech Recycling plant

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Plans to build a tire recycling plant in Kaposvár were canceled by Homatech Recycling due to support for a local referendum against the investment, mayor Károly Szita said yesterday, according to Hungarian news agency MTI.

Homatech CEO Gábor István signed an agreement to cancel the sale of a parcel of land on which the plant was to be built, Szita added, according to MTI.

"The plan to build the plant divided the residents of our city, and thatʼs not good for a strong community, such as ours. I wanted to end this division," Szita said, according to MTI.

Plans to build the HUF 16 bln plan in Százhalombatta were announced last November by Homatech, but local opposition prompted plans to move to Kaposvár, and the new location was announced in April, MTI noted.

Homatech Recycling is majority owned by Bonitas 2002 Befektetési, a holding of OTP Bank chief Sándor Csányi, said MTI.

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