German semiconductor manufacturer Infineon Technologies is investing 32 billion forints (EUR 100m) in its plant in Cegléd, in central Hungary, creating 275 workplaces, Minister of Foreign Affairs and Trade Peter Szijjártó said on Friday.
the government is awarding a 20 million euros (6.4 billion forint) grant for the project because of the importance of the investment.
The minister said the plant would manufacture semiconductors for inverters in electric and hybrid vehicles.
The German company group is present in 134 countries, so the fact that it has chosen Hungary for the investment project gives special significance to the expansion project, Szijjártó said.
In the past five years, 91 large German investment projects were carried out in Hungary, to a total value of 1,800 billion forints and creating 25,000 jobs, the minister said. The US professional magazine Site Selection included Hungary among the world’s top ten most attractive locations for investment, he added.
The vice president of Infineon Technologies Jörg Spiegel (on the picture) also had a speech in the ceremony.