Japan's Suzuki will invest additional an $26.8 million in its automobile plant in Hungary's Esztergom, Hungarian Foreign Minister Peter Szijjarto said on Wednesday
BUDAPEST (Pakistan Point News / Sputnik - 26th July, 2023) Japan's Suzuki will invest additional an $26.8 million in its automobile plant in Hungary's Esztergom, Hungarian Foreign Minister Peter Szijjarto said on Wednesday.
Szijjarto is currently on a visit to Japan, where he held talks with his counterpart, Yoshimasa Hayashi, and had a series of other meetings.
"Suzuki will invest in its production base in Esztergom, which will expand its capacity, creating very significant technological developments in the field of digitalization and automation. In parallel, they are taking another big step toward making the plant carbon neutral. As part of the 9.3 billion forint ($26.8 million) investment, the capacity of the bumper, paint and welding factory will be expanded, high-tech equipment will be bought and a solar power plant will be built," Szijjarto said in a video published on social media.
He also said that the Hungarian government will support the plant with another 1.9 billion forint, adding that the plant in Esztergom is Suzuki's third largest production base worldwide.
Szijjarto also said that, during his visit to Japan, an agreement on cooperation in the nuclear industry was signed between the countries.
"We can guarantee that, regarding nuclear energy, international discussions can only be rational, based on common sense, and that ideological or emotional attacks on the nuclear industry will finally stop," the Hungarian minister said.
He also welcomed the fact that Japan is a major importer of Hungarian food products, in particular peas, sunflower seeds, duck meat and goose pate. Hungary's exports to Japan, which reached a record $940 million in 2022, are up 30% this year, Szijjarto said.
Suzuki is a world-famous Japanese car brand. It has 35 production facilities in 23 countries. Suzuki's plant in Esztergom was founded in 1991 through joint investments by Suzuki itself, the Hungarian government, Japan's Itochu corporation and the World Bank. In 2022, the factory produced over 124,000 cars.
