Swiss Stadler also invests in Hungary

Swiss train carriage manufacturer Stadler is investing 17 billion forints (EUR 44.2m) to expand production capacity at its plant in Szolnok, in eastern Hungary, creating 170 jobs, Péter Szijjártó, the minister of foreign affairs and trade, said on Tuesday.

The investment will expand production capacity by 20 percent, so that Stadler will be able to turn out 750 carriages every year, Szijjarto said. The government is supporting the project with a 4.8 billion forint grant, Szijjártó said.

Around half of the railway and suburban railway carriages currently used in Hungary have been made by Stadler, Szijjártó noted, while 90 percent of its production goes towards exports to European and US cities, he added.