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Opel lays cornerstone of €500 mln plant in Hungary

German carmaker Opel on Tuesday laid the cornerstone of a €500 million engine plant at its base in Szentgotthárd (W Hungary).

The Hungarian government sees General Motors – Opel's American parent company – as a partner offering long-term cooperation, Prime Minister Viktor Orbán said at the ceremony.

Opel/Vauxhall CEO Nick Reilly said Opel was “100% committed” to Szentgotthard and had brought the base into a broad product offensive.

The new plant will create 800 jobs from 2012.

Opel will get a HUF 5.5 billion investment grant from the state of Hungary to support the addition of a third engine line at the base.