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Budapest, a Climate for Growth
Property Investment Budapest, Property for Sale

Audi Expands Plant

German carmaker Audi AG announced a 900 million euros ($1.2 billion) expansion of its Hungarian plant. Audi said it would lift production to 125,000 vehicles a year once its expanded plant at Gyor, in northwest Hungary, begins full production from 2013, creating 1,800 new jobs. “Today’s step ensures growth and labour force for Audi. We will expand the Hungarian plant into a full-fledged car factory,” Audi Chairman Rupert Stadler told a news conference. “Hungary created an excellent foundation in terms of the quality of the labour force, the flexibility of the working hours and not the least the wage structure.”

Mercedes Starting Production

The Hungarian Mercedes plant will be completed by May 2011 in Kecskemet, about 80 kilometres South-East of the capital Budapest, with production starting the following year. Daimler is investing 800 million euros to build this new assembly center in Hungary. It will be the carmaker’s first Mercedes factory in Eastern Europe. Hungary beat rival sites in Poland and Romania, and secured the biggest single investment in the country’s history. Daimler expects it to be operational in 2011 and to produce 100,000 vehicles a year.

Opel Expands Engine Production

Opel is expanding its operation in Szentgotthárd in southwest Hungary. With an investment of 500 million euro, the site, built in 1990, will be expanded and prepared for the construction of three new engine families. The new plant will offer 800 jobs. Production of the engines will begin at the end of 2012. At full capacity, the plant has an output of 500,000 units annually.

Budapest Airport Expansion

Budapest Airport is currently constructing SkyCourt, a spacious and sophisticated terminal building, to be completed by the end of 2012. The SkyCourt will make flying more comfortable and faster – and Hungary will have another landmark building to be proud of. Due to increasing passenger traffic, Ferihegy is operated at capacity, terminals are becoming too small now, and their existing dimensions represent a limit to further capacity extension. The SkyCourt will add forty percent to the check-in area and make is possible to open ten new check-in counters as well as 8 additional self-check-in units. Thus, waiting times will drop significantly, queues will get shorter, and the airport will be able to handle more flights simultaneously at any given time.

Samsung Factory in Tatabánya

Korean electronics producer Samsung started the construction works of its plastic granulate plant in the industrial park of Tatabanya, northwestern Hungary. The facility will manufacture plastic parts for screens and laptops.

€600 mln Power Plant

Switzerland’s Advanced Power plans to build a €600 million 880MW combined-cycle power plant in the Hungarian city of Szeged. The plant could begin operating as soon as 2015, with a lifespan of at least 25 years. Advanced Power picked Szeged as the site for the plant because of the significant gas storage capacity nearby.

Bosch Factories

German engineering company Robert Bosch Kft will invest EUR 32 million by 2012 at its Budapest development center. Bosch is now the second-largest foreign employer in Hungary. The Budapest center’s engineering staff has grown in numbers from the initial 5 to 500 today. In addition to its Budapest facility, Bosch is to build a EUR 22 million production unit at its Miskolc facility to create nearly 1,100 new jobs.

New Highway Completed

In March of 2010, the M6 highway, fully connecting Budapest with Hungary’s southern city of Pécs, was handed over. The EUR 1,4 billion project completed 146 km of new highway from Dunaújváros to Pécs. Hungary now has more than 1,000 km of highway roads.

Source: Tower Budapest

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