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Hungary to aid troubled fertilizer maker

The government agreed to provide a state guarantee on an investment loan up to €56 million for troubled Péti Nitrogénművek, Hungary's only artificial fertilizer maker, at a cabinet meeting on Wednesday, Agriculture Minister József Gráf said.

The government also decided to provide an additional guarantee on 80% of a bank loan up to HUF 10 billion to cover the purchase of inputs, such as gas, at the plant, Gráf said.

The decision will save several hundred jobs, said government spokeswoman Bernadett Budai. (MTI – Econews)