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Hungary’s Mabio to launch bio-ethanol investment

Bács-Kiskun county-based Magyar Bioenergetikai Zrt (Mabio) is to launch a €190 million ($263 million) investment, one of the largest of its kind in Hungary.

The scheme will result in two new bio-ethanol plants in Csabacsűd and Szabadszállás, which will cost €97 million and €93 million respectively. Besides the investor’s own funds, the remainder of the sum will be covered from bank loans. Originally, Mabio was planning to construct five plants, but had to settle for two. Nonetheless, the firm has not given up on its original concept, and talks are underway about the realization of the other three facilities. The two production sites will have an annual bio-ethanol production capacity of 200,000 tons from 700,000 tons of corn. The developments will provide for 240 new jobs. (Napi Gazdaság)