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US carbon fiber maker Zoltek plans to invest Ft 20 billion at its plant in Nyergesújfalu, north of Budapest, Minister of Economy and Transport János Kóka announced on Friday.
Zoltek will update and expand its production at the plant as well as set up a research and development centre. Production will increase from 1,000 tons in 2005 to 8,000 tons by 2007. The investment will create 400 new jobs at the plant.