Kuehne + Nagel lays cornerstone of HUF 5 bln investment

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Switzerland-based global transportation and logistics company Kuehne + Nagel Monday laid the cornerstone of a HUF 5 billion car parts distribution center in Páty, west of Budapest, which is foreseen to employ 260 people once completed next summer, according to reports.

Hungarian state-owned National Industrial Park Operation and Development Zrt.  is the general contractor for the project, three-quarters of the investment costs of which are being covered by bank credit, according to Hungarian news agency MTI. 

The investment marks the launch of a state-funded national industrial park development program, MTI recalled.

Kuehne + Nagel employs almost 1,000 people in Hungary.

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