French water waste management firm Suez invest €29m in Hungary

French energy and water waste management company Suez Water Technologies and Solutions is to develop its plant in Oroszlány, northwestern Hungary with an investment of 9.6-billion forints (€29-million).

Hungarian Foreign Affairs and Trade Minister Péter Szijjártó said that the decision was a great acknowledgement for the country's water management industry that one of the world's leading companies in the field had chosen to invest in the country again.

An additional 1.7-billion forints (€5.1-million) will be provided by the Hungarian government to support the project, which is set to create at least 85 new jobs.

Mr Szijjártó said that 99% of the products manufactured in Suez's Hungarian facility is for export, and as such expanding the production capacity would be a boost for Hungary's exports.

“Multinational companies, however, do not only contribute to our peaking exports, but they also bring state-of-the-art technology to Hungary,” he continued.

Yuvbir Singh, chairman and CEO of Suez Hungary pointed out that the investment would mean a 35% increase in the plant’s production, adding that the factory, which was opened in 2002, has reached the boundaries of its production capacities.

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