ADVERTISEMENT

German and Hungarian companies plan €250 mln bioethanol plant

Recycling

A consortium of German and Hungarian companies plan to build a €250 million bioethanol plant in Hajdúsámson (NE Hungary), Ferenc Obreczán, who heads the Association of Hungarian Farmers' Cooperatives (MAGOSz), announced on Monday. The plant will have capacity to produce an annual 340,000 tons of bioethanol, he said. Farmers representatives discussed the plan last week with German companies GEA Viegand and MDE Dezentrale Energiessysteme GmbH, and Bio-Tech-Energie, a Hungarian company being set up for the project. The plant, to be majority-owned by the German companies, would be completed by 2008. It would process 1 million tonnes of grain grown on 120,000 hectares, and create 200 jobs. The plant would have its own 50MW power plant, and would sign ten-year contracts with farmers, guaranteeing purchases. It would pay for seeds and some new machinery as well.

ADVERTISEMENT

Fiscal, monetary policy partnership needed to rein in CPI - ... Analysis

Fiscal, monetary policy partnership needed to rein in CPI - ...

Parl't votes to phase out savings coops integration framewor... Parliament

Parl't votes to phase out savings coops integration framewor...

Roche Szolgáltató appoints P&C business partner lead Appointments

Roche Szolgáltató appoints P&C business partner lead

FAO–Food Bank convoy delivers food to those in need City

FAO–Food Bank convoy delivers food to those in need

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.