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BILK completes HUF 2 bln warehouse

A HUF 2 billion, 15,000-square-metre warehouse has been completed at the Budapest intermodal logistics center (BILK), BILK CEO Miklós Marján said.

The project was awarded HUF 473 million in EU funding and HUF 387 million from the state, Marján said. The rest of the cost was covered by a loan from the state-owned Hungarian development bank MFB and BILK's own resources. The entire warehouse has been rented out, he added.

The new warehouse will boost BILK's annual revenue by HUF 250 million from HUF 4 billion in 2008. The investment will bring total warehouse space at BILK to 100,000 tons.

BILK has so far built 112,000 square meters of warehouse space worth some HUF 15 billion. The entire base is expected to cost a combined HUF 40bn to build.

Hungary aims to become one of Europe's most important logistics centers by 2013, said National Development and Economy Ministry state secretary Sándor Burány. (MTI – Econews)