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Sygnus to implement HUF 600m expansion of Paks harbor

Grain trading company Sygnus Kft will carry out a HUF 600 million (€2.14 million) expansion of its Danube harbor in the town of Paks, company CEO Tibor Sági told MTI on Tuesday.

Sági said the company expects to complete construction of a warehouse, truck-repair shop and office building as well as installation of a loading crane in October.

Sygnus started to build the harbor in 2002. The new development will raise the harbor's capacity from 45,000 tons by 20,00 tons.

The Sygnus CEO noted that EU funding will cover 50% of the cost of the project.

Sygnus had turnover of HUF 16 billion in 2009, compared to HUF 12 billion in 2008. (MTI-ECONEWS)