Siemens Eyes HUF 10 bln Investment In Budapest

  • 23 Nov 2016 8:00 AM
Siemens Eyes HUF 10 bln Investment In Budapest
Siemens is planning to spend HUF 10 billion on developments at its Budapest plant over the next three years, President-CEO Dale A. Martin announced today according to reports.

With construction starting this week, Siemens is building a new 10,000 square-meter production hall and adding 2,500 sqms to the existing one, said Árpád Goszták, CFO of Siemens Power and Gasʼs Budapest plant, according to Hungarian news agency MTI.

As a result of the investment, Siemens expects to hire more than 150 engineers to work at the Budapest unit, which manufactures turbine blades and large steel components for gas and steam power plants, the CFO added.

Manufacturing of the high added-value new products will begin in 2018 and the plant will become one of Europeʼs biggest turbine blade factories as a result of the development, said Minister of Foreign Affairs and Trade Péter Szijjártó, according to MTI.

Source: BBJ

Republished with permission

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