China's BBCA lays cornerstone for HUF 34bn citric-acid plant
China-based BBCA Group laid the cornerstone for a HUF 34 bln citric-acid plant in the city of Szolnok, the group announced yesterday. This is the second citric-acid plant building to be announced this month.
The plant will be built by a Chinese-Hungarian joint-venture owned by BBCA and by the Hungarian State. Hungary's share will not exceed 49%.
China's BBCA plans to hire 440 people to work at the Szolnok plant.
Opening towards Eastern oppportunities does not mean Hungary is neglecting western markets, National Economy Minister Mihály Varga said at the event. However the government must seek possibilities elsewhere if European countries continue to stagnate economically.
As part of its Eastern-facing agenda, the National Economy Ministry set up 16 new departments in 2012 to boost Hungarian trade in Asia.
Citric acid is a natural preservative/conservative which occurs naturally in citrus fruits and is also used to add an acidic or sour taste to foods and drinks.
ÁKK Sells HUF 50 bln of Bonds at Auction, Over Plan
Hungary to Address Future of Cohesion Policy During EU Presi...
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.
