Gov't Steps in to Make Payroll for Troubled Dunaferr

Manufacturing

The government has decided to cover payroll for troubled steel maker Dunaferr for a period of six months, Prime Minister Viktor Orbán said in a video message posted on Facebook on Wednesday.

The expenditure will come to more than HUF 16 billion, Orbán said.

"Dunaferr has been ruined by its former owners and management, and finally Brussels' sanctions," he claimed.

He said work would be done in the coming months to ensure a "dependable, reliable owner" can take over the steelworks when the six-month period comes to an end.

Dunaferr was ordered under liquidation in mid-December.

In September, Dunaferr made a plea for government support after shutting down its blast furnaces. Low steel prices paired with the rise in energy prices, supply chain issues, and the war in Ukraine put the company in a situation with which it is "unable to cope alone," Dunaferr said at the time.

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