The local unit of Norwegian extruded aluminum profile maker Sapa is building a HUF 6.8 billion plant at its base in Székesfehérvár, central Hungary, Minister of Foreign Affairs and Trade Péter Szijjártó said at a press conference in Budapest on Wednesday.
The investment will create 120 jobs, Szijjártó said. The company employs about 1,500 people in Hungary at present, he added.
The government is awarding the unit a HUF 1.2 bln grant to support the development of electric vehicles in Hungary, the minister revealed. Supplying aluminum parts for electric vehicles is one of Sapaʼs businesses.
Frank Iepema, Sapaʼs managing director in Hungary, thanked the government for supporting the investment and noted that the companyʼs base in Székesfehérvár has gradually shifted its focus from volume to value.