BBCA to get HUF 42 bln MFB loan for citric acid plant

Telco

The state-owned Hungarian Development Bank (MFB) is providing a HUF 42 billion loan, guaranteed by the Bank of China, for a HUF 60 bln citric acid plant Chinaʼs BBCA Group is building in Szolnok (central Hungary), the cityʼs deputy mayor told MTI on Wednesday, Hungarian news agency MTI reported.

The MFB will contribute a further HUF 8.5 bln to the investment, the contract for which was signed in 2015, to be matched by BBCA, and the government will chip in HUF 1 bln, said Szolnok Deputy Mayor István Szabó.

Construction is expected to start in the third quarter of this year, he added.

The plant is expected to be completed in a year and a half. It will turn out an annual 60,000 tons of citric acid from 106,000 tons of maize, and will employ 440 people.

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