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Hungarian bus maker ITK Holding laid the cornerstone of a HUF 2 billion production hall at its base in Debrecen (eastern Hungary) on Saturday, state news wire MTI reported.
The investment expands ITK Holdingʼs production area at the base to 5,000 square meters, said Chairman-CEO György Kossa.
ITK Holding also unveiled the prototype of a school bus it developed based on a Mercedes-Benz vehicle at the ceremony.
ITK Holding, majority-owned by Hungarian oil and gas company MOL, has a close partnership with the local businesses of German automotive industry company Daimler.