Administrative hurdles cleared for Apollo Tyre plant
The government has declared a HUF 146 bln plant owned by India's Apollo Tyres will be built in Gyöngyöshalász (northern Hungary) as an investment of "elevated importance" for the national economy, a designation that eases the administrative tasks necessary for the investment. The declaration was made in a decree published in Hungarian official gazette Magyar Közlöny.
Company and government officials announced the planned construction of the plant in September. It will create 975 jobs. The government is awarding Apollo a cash investment subsidy of HUF 16 bln for the project. The cornerstone of the plant is expected to be laid in the spring of 2015, and the first tyre could roll off the production line early in 2017.
ADVERTISEMENT
Hungary Agricultural Output Value Grows by 6.5%
Hungarian-American Business Chamber Established in Chicago
Number of Registered Jobseekers Down 3% in November
Mulled Version of Belle-Vue Kriek Makes Debut at Advent Fair
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.
