March 16th, 2010

Cornerstone laid for Ft 2.7 billion power plant in SE Hungary

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Two Hungarian companies and the local council of Battonya (SE Hungary) on Friday laid the cornerstone of a HUF 2.7bn, 6MW power plant to be fueled with natural gas from a field at the site, mayor Jozsef Karsai told MTI.

The two companies, based in Szeged, own 76pc of the project company for the plant, Energiapark, and the local council owns the rest.

Two state and European Union grants will cover about HUF 1bn of the cost of the project. The investors are taking out HUF 1bn of loans and using HUF 700m of their own resources for the plant.

The plant is expected to start operating by the end of 2010.

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