Largest Investment in Hungary this Year Officially Announced

  • 28 Jul 2023 10:56 AM
  • Hungary Matters
Largest Investment in Hungary this Year Officially Announced
Chinese battery maker Sunwoda will build its first European plant with investment of 580 billion forints (EUR 1.5bn) in Nyíregyháza, eastern Hungary, which will create thousands of jobs, Foreign Minister Péter Szijjártó said.

The ministry cited Szijjártó as saying that Sunwoda was among the top ten battery makers globally.

In the first phase, the investment has been announced to cost 93 billion forints but including further construction required in the project, it will total 580 billion forints in the long term, he added.

“This is the largest investment announced this year,” he said. “This is the third investment this year that represents a value of more than 1 billion euros and it will enable us to fulfil the promise not only to exceed last year’s record-high investments but also to double them,” he added.

Sunwoda considered environmental protection a priority, he said, insisting that 90% of the plant’s water demands would be supplied from waste water after treatment. Drinking water will only be used for handwashing, drinking and other similar purposes, and a pre-treatment facility will be set up for the waste water, he added.

The company will also set up a solar park to enable the plant’s energy demands to be met mostly from renewable energy. The plant will join a local council monitoring system to guarantee the prevention of air, soil and water pollution, he added.

The company will go beyond fulfilling the already strict Hungarian regulations in European comparison, and it will set even stricter requirements, he said.

Szijjártó said Greenpeace had been among the first to welcome a recent announcement in the UK involving the construction of a large electric battery plant.

“So I ask everyone to be cautious and considerate when they present their thoughtful opinions about this investment,” he added.

He said that among the ten largest battery makers in the world, five companies holding a 49.4% share in the sector globally will have a presence in Hungary.

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