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Sugar refiner to spend HUF 7 bln on expansion

Magyar Cukor Zrt, Hungary's sole sugar company, said it will invest nearly HUF 7 billion in the coming years in an effort to alleviate Hungary's dependence on imported sugar.

Cukor will mount a HUF 1 billion project in July to build a refiner in Kaposvár, southwest Hungary. Another program, worth HUF 2 billion, is already underway that will allow the company to cover its entire energy consumption with biogas from 2013. HUF 4 billion will go toward a new sugar silo and packaging facility.

Magyar Cukor is owned by Austria's Agrana group, which has units in the Czech Republic, Slovakia, Romania, Austria and France.