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Construction of EcoSolifer solar panel plant delayed

Switzerland-based Hungarian-owned solar-energy company EcoSolifer is unlikely to begin construction of a €50m solar-panel plant in northwestern Hungary this autumn as previously expected, because the company has not been able to reach an agreement with banks regarding financing the investment, the regional daily Kisalföld reported on Wednesday.

EcoSolifer announced this summer that it would begin construction of the factory in the village of Csorna in September, employing 160 workers at the plant following the projected start of production in the summer of 2012.

National Economy Ministry State Secretary Zsolt Becsey said this summer that the government was considering providing the company with a HUF 935m subsidy for construction of the plant.