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NAGEV inaugurates HUF 6 bln hot-dip galvanization plant

NAGEV Cink on Thursday inaugurated a HUF 6 billion hot-dip galvanization plant, the country's biggest, near Budapest.

NAGEV won a HUF 319 million European grant for the plant in the town of Ócsa. The owner covered HUF 1.5 billion of the cost and the company took out a HUF 4.3 billion loan within the framework of the Hungarian development bank MFB’s New Hungary Business Development Loan Program.

Almost 100 people will work at the plant at the start.

NAGEV has four units in Hungary as well as ones in Romania and Luxembourg.

NAGEV had profit of HUF 400 million on revenue of HUF 4.5 billion last year. It employs 450 people.