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Turkish company in Kaposvár announces huge investment

The Turkish company will make an investment of HUF 73 billion in the Somogy County seat.

The first European glass packaging plant of Sisecam Group will be established in Kaposvár. It is the largest investment made by a Turkish company in Hungary so far, Minister of Foreign Affairs and Trade Péter Szijjártó announced. 

Szijjártó added that the government will provide HUF 12.5 billion in non-refundable support for the development, which will create 330 new jobs.

Sisecam is one of the largest industrial groups in Turkey, and it has now become a global player. It is the second-largest glassware company in the world, with 43 plants in 14 countries, and exports its products to 150 countries. 

Thanks to the current investment, 330,000 tons of glass packaging material will be produced in Hungary every year, the minister said, adding that it would have a significant impact on the development of the Hungarian glass industry and Hungarian glass production.

According to Péter Szijjártó, Sisecam’s investment also proves that the policy of opening up to the East was right. Turkey is one of the fastest-growing economies in the world, and the minister also pointed out that trade turnover between Turkey and Hungary increased by 27 percent in the first quarter of this year.

The minister also emphasized that while investments in the world fell by 42 percent last year, Hungary was able to show 140 percent growth. It was no coincidence that the OECD upped its growth estimate for the Hungarian economy to 4.6 percent this year and 5 percent next year, he concluded. 

So far, 1,434 companies have participated in the Hungarian government’s investment incentive program during the pandemic, and HUF 1.7 trillion worth of developments are taking place in the country, he said.

In order to increase competitiveness and attract higher value-added industries to Kaposvár, a new industrial park will be established on ​​170 hectares, while the eastern industrial park where Sisecam will be located will also be expanded. 

Source
www.hirado.hu
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