Kiskunfélegyházi Malom invests HUF 960 mln in capacity expansion
Milling company Kiskunfélegyházi Malom is investing HUF 960 million in a capacity expansion, with HUF 480 mln being provided through a government grant, National Economy Minister Mihály Varga said yesterday, according to Hungarian news agency MTI.
The company will receive funding as part of the governmentʼs program to provide non-refundable support to big local companies that are not entitled to European Union development funds.
In 2015 the government allocated HUF 3 billion towards this goal, and a further HUF 15 bln in 2016, Varga said.
Kiskunfélegyházi Malom will receive the government grant by the second half of 2016 at the latest, according to Varga.
The company currently has 800 employees and in 2015 it had a revenue of HUF 5.5 bln, István Gulyás, the owner of the company said. Including the government grant, the milling company expects to invest HUF 2 bln and will create 100 new jobs by the end of 2016.
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