Masterplast to build HUF 5.1 bln XPS insulation plant in Serbia
Listed Hungarian building materials maker Masterplast on Friday said it is building a HUF 5.1 bln extruded polystyrene (XPS) insulation plant at its base in Subotica, Serbia, according to a report by state news wire MTI.
The Hungarian government is covering half of the investment cost.
The 3,600 sqm plant will have the capacity to turn out 200,000 cubic meters of product a year. Production is set to start at the beginning of 2023.
Masterplast will also build a 2,000 sqm enclosed warehouse and add almost 6,000 sqm of outdoor storage space at the base as well as 400sqm of office space with a quality control laboratory.
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