Video: Doosan Starts Building HUF 31 Billion Copper Foil Plant In Hungary

  • 24 Jul 2019 9:20 AM
  • Hungary Matters
Video: Doosan Starts Building HUF 31 Billion Copper Foil Plant In Hungary
South Korea’s Doosan laid the cornerstone of a 31 billion forint (EUR 95m) copper foil plant in Tatabánya, in north-west Hungary.

Péter Szijjártó, the minister of foreign affairs and trade, noted that the government is supporting the investment, which is creating 181 jobs, with a 4.7 billion forint grant.

The plant will turn out 50,000 tonnes of copper foil a year when it reaches full capacity, enough to make batteries for some 2.2 million electric vehicles.

Szijjártó said the investment was record-breaking for a South Korean company in Hungary, and he noted that the country was Hungary’s biggest foreign investor in the first half of the year, with 350 billion forints invested in total.

“This is the first time in the last five years that South Korea has come top in terms of investment value and new jobs, rather than Germany,” he said.

Bilateral trade rose by an annual 50% in 2018 and by 41% in the first six months of 2019, he added. With the current investment, Doosan will be a major supplier to the European market, he noted.

Hyunsoo Dong, vice-president of Doosan Corporation, said its Hungarian plant, built on 144,000 square metres, would be geographically the closest to prospective customers.

The site is big enough for the plant’s capacity to be doubled later on, he added. Local Fidesz lawmaker János Bencsik noted that the Tatabanya Industrial Park was established 25 years ago.

Besides the automotive industry, it is home to world-class investors in health care and the green sector as well as plastic industries, he said.

 MTI Photo: Bodnár Boglárka

  • How does this content make you feel?

XpatLoop Media Partner

Hungary Matters

Launched in January 2014, this newsletter published on week days covers 'everything you need to know about what’s going on in Hungary and beyond', according to its publisher the state media agency MTI.

Explore More Reports

  • Hungary to Produce Slovenian Aircraft

    Hungary to Produce Slovenian Aircraft

    • 20 Sep 2021 6:18 AM

    Slovenian aircraft manufacturer Pipistrel has concluded a €100 million contract with Hungary’s Generation Aircraft on the production, distribution and after-sales support of the company’s ultralight model to selected markets, Világgazdaság reports, citing Slovenian news agency STA.

  • New Investments In E Hungary Inaugurated by Szijjártó

    New Investments In E Hungary Inaugurated by Szijjártó

    • 14 Sep 2021 5:43 AM

    The Hungarian government implemented the largest investment support programme of all time last year, Péter Szijjártó, the minister of foreign affairs and trade, said at the inauguration of an expanded packaging plant in Debrecen, in eastern Hungary.