Gov't awards subsidies for big company investments

Government

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Finance Minister Mihály Varga on Thursday awarded three companies grant money allocated to support investments at big businesses, according to a report by state news wire MTI.

Varga awarded HUF 6.8 billion in grant money to CECZ Logistic Park Management for a HUF 20 bln logistics park in Vác, on the outskirts of the capital; HUF 2.7 bln in subsidies to Re-Pol Innovációs for a HUF 5.6 bln rubber recycling plant; and HUF 1.7 bln to metal sheet maker Ferzol for a HUF 3.8 bln automated plant complemented by energy and technology upgrades.

The investments will create 350 jobs, he said.

The funding earmarked for big company investments has supported 250 projects with a combined value of HUF 570 bln since the scheme was launched in 2015.

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