Why is China's Zoomlion Investing EURO 100 Million in Hungary?
- 24 Feb 2025 2:39 PM
Chinese construction and agricultural machine maker Zoomlion is investing EUR 100m in Tatabanya (W Hungary) to establish a mobile elevated work platform (MEWP) manufacturing plant, Ministry of Foreign Affairs and Trade State Secretary Levente Magyar announced.
Magyar said the investment project would be one of the biggest of the year. He noted that the company already has bases in Germany and Italy and the Hungarian government is committed to support the company's further expansion efforts in the country.
Magyar noted that Chinese investments to Hungary have reached HUF 5,500bn between 2014 and 2024, accounting for 44pc of all of China’s investments in Europe.
Zoomlion president Chunxin Zhan said the investment would create 800 jobs and they are looking to forge strong bonds with local suppliers. Production could start this year, he added.
Meanwhile, KE-VIZ invests HUF 632m in capacity expansion
Family-owned construction company KE-VIZ 21 has invested HUF 632m in purchasing machines and modernising its bases in Nyiregyhaza and Nagyhalasz (both NE Hungary), the company told MTI.
KE-VIZ 21 was awarded a HUF 442m conditional government and EU grant for the project.
The company had 165 employees in 2023 and HUF 19.7bn net revenue, public records show.
Source:
MTI - The Hungarian News Agency, founded in 1881.
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