Siemens’ new plant inaugurated in Hungary

Péter Szijjártó, the minister of foreign affairs and trade, said that the new investments by Siemens Energy “are of special significance” in Hungary, in his address at the inauguration ceremony in Budapest on Thursday.

Siemens Energy Ltd.’s new factory building in Budapest on the day of the inauguration ceremony, 23 May 2024. Photo: MTI/Máthé Zoltán

The local unit of the German-owned company inaugurated a production hall and a training centre and installed a 1.5MW solar park in a 26 billion forint (EUR 67m) investment at its base in the capital.

The investment was supported with a 900 million forint government grant, Szijjártó said.

Inauguration of new Siemens factory

Péter Szijjártó, Minister of Foreign Affairs and Trade, speaks at the inauguration ceremony of the new Siemens Energy Ltd. factory in Budapest, Hungary, 23 May 2024. Photo: MTI/Máthé Zoltán

The new unit will make gas turbine burner heads, the minister added.

He noted that Siemens Energy’s revenue from its Hungarian operations has doubled, its headcount increased by 400 and the company has spent close to 50 billion forints on capital investments since it signed a strategic partnership with the government.

He noted that Siemens Energy, jointly with France’s Framatome, won the contract to supply the control system for the new blocks of the Paks nuclear power plant.

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