Opel announces €130 mln expansion in Hungary

Pharma

German carmaker Opel on Tuesday announced a €130 million expansion at its base in Szentgotthárd. The expansion, announced by Opel Vice President Joachim Koschnicke and Prime Minister Viktor Orbán, will add another 1,600sqm of production space at the base, creating more than 100 jobs. The expansion will raise engine output at the base by a hundred thousand units a year, Koschnicke said. Opel has invested about €1.4 billion in Szentgotthard since 1990, he added. Opel will make 23 new models and 13 new types of engines in the coming years, he said. Orbán noted that Opel's decision on the expansion, taken less than six months after the company inaugurated a €500 million engine plant at the base, shows that companies already in Hungary "know that the Hungarian economy is predictable". Orbán said the cabinet would accelerate the process of road construction underway supporting a connection between the plant and the main No. 8 road.

ADVERTISEMENT

Varga puts 2021 GDP growth at 7-7.5% Analysis

Varga puts 2021 GDP growth at 7-7.5%

Opposition parties to begin PM candidate primaries Elections

Opposition parties to begin PM candidate primaries

New managing director at the helm of Wolt Hungary Appointments

New managing director at the helm of Wolt Hungary

Budapest bike-sharing scheme boasts record ridership City

Budapest bike-sharing scheme boasts record ridership

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.