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Hungary announces state grants for job creating investments

German car maker Audi will get a HUF 11.2 billion investment grant from the state of Hungary to support an expansion of its base in Győr, while peer Opel will get a HUF 5.5 billion investment grant from the state of Hungary to support expansion projects National Economy Minister György Matolcsy said.

Audi announced in September a €900 million expansion at the base. The expansion is to raise output at the plant to 125,000 cars a year from 2013 and create 1,800 jobs.

The investment grant works out to HUF 6 million per worker, Matolcsy said. The state will recoup the grant within three years, he added.

Opel announced in September it plans to spend €500 million to introduce a third line of engines at its production base in Szentgotthárd. The project will create 800 jobs from 2012.

The investment grant works out to HUF 6.8 million per worker, Matolcsy said. The state will recoup the grant within five years, he added.