Siemens has invested 10 billion HUF (32.5m EUR) expanding its gas and steam turbine blade plant in Budapest.
The new facility will create 150 new jobs, expand its current production area by 2,500 square meters and create a new 10,000 square meter production hall.
Péter Szijjártó, minister of Foreign Affairs and Trade, attended the foundation stone laying ceremony on Monday. The minister expressed his delight that Siemens had chosen Hungary as the site for its latest state-of-the-art technology investment.
“The significance of the investment is increased by the fact that the world’s energy industry is changing, with both renewable energy sources and nuclear energy gaining in importance. Siemens of one of the global leaders in realising power plant projects of this nature, and the company’s investment in Budapest means Hungary will now be among the world’s frontrunners in yet another sector of industry," the minister said.
Minister Szijjártó stressed that the investment was a joint step towards moving the Hungarian economy and Hungarian industry forwards into a new dimension, a digital era based on research & development and innovation.
What's more, the minister said there are currently 50 Hungarians studying in the Siemens plant in Berlin so they can become involved in the high quality task of manufacturing turbine blades, and they will soon be joined by another nine staff, he said.
Production of the new products at the power and gas plant in Budapest will begin in 2019.