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INFINEON INVESTS HUF 32 BN IN CEGLÉD PLANT

 

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 Péter Szijjártó said. The government is awarding a 6.4 billion forint grant for the project because of the importance of the investment. The plant will manufacture semiconductors for inverters in electric and hybrid vehicles, the minister said. 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, he 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 US professional magazine Site Selection included Hungary among the world’s top ten most attractive locations for investment, Szijjártó said.