Switzerland's Phoenix Mecano inaugurated a HUF 2.3 billion solar panel plant at its base in Kecskemét (C Hungary).
Phoenix Mecano won a HUF 460 million grant from the European Union and the Hungarian government to support construction of the plant.
The project has created several hundred jobs, said managing director Zoltán Nagy. The plant's entire output will be exported, he added.
Phoenix Mecano Kecskemét set up 18 years ago with 44 workers. Following investments totaling about HUF 16 billion, the unit today employs 1,500 people.
Phoenix Mecano Kecskemét's revenue rose significantly in 2010 as output jumped 30-35%.