Germany’s Infineon Technologies is to expand its plant near Budapest, which makes components for solar and wind power systems, Gordon Bajnai, the development and economy minister, said on Tuesday.
The expansion will create 250 new jobs by 2012, said Bajnai.
Infineon deputy-chairman Jorg Spiegel said the investment is Infineon’s fourth in Hungary, which shows the company is committed to Hungary for the long term.
Infineon picked Hungary for the expansion because of its trained and motivated work force as well as the country’s geographical location, he added.
Infineon started the project in June 2008 and will start production in a new hall in April 2009. Capacity will be expanded in the new hall gradually until 2012.
The government will announce the size of the subsidy it awarded Infineon for the investment after the subsidy is approved by Brussels, said Bajnai.