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Audi to invest 1.2 billion dollars in Hungarian plant
Published in Saudi Press Agency on 23 - 09 - 2010


The German carmaker Audi is to invest 900
million euros (1.2 billion dollars) in a major expansion of its
Hungarian operations, dpa quoted chairman Rupert Stadler as announcing in the
capital Budapest on Thursday.
The investment will lead to 1,800 new jobs by 2013, Stadler and
Prime Minister Viktor Orban told reporters in Hungary's parliament
building.
Audi, a wholly-owned subsidiary of Volkswagen, currently produces
its TT Coupé, TT Roadster and A3 Cabriolet models at its plant near
the Hungarian industrial city of Gyor.
The factory, which opened in 1994, employs about 5,600 workers at
present and produced over 32,603 cars and 1,383,909 engines last
year, according to the firm's web site.
Audi aims to raise Hungarian production to over 125,000 cars
annually by 2013 through its new investment in an integrated
manufacturing base.
The news of Audi's planned massive capital injection comes just
two days after a similar announcement by Opel, the German subsidiary
of the US giant General Motors.
Opel announced on Tuesday a 500-million-euro expansion of its
engine production plant in Szentgotthard, western Hungary, with the
promise of 1,000 new jobs.
With the expansion of its Audi production lines in Hungary, parent
company Volkswagen looks set to trump even its German rival Daimler
in terms of the scale of its ongoing investment in the Central
European country.
Construction work is already underway in the Hungarian town of
Kecskemét on Daimler's new Mercedes-Benz factory, a billion-dollar
project that is expected to create 2,500 jobs when production lines
start rolling in 2012.
The Hungarian government has hailed the latest investments in the
automotive sector as evidence of the confidence of the "real economy"
in Hungary as it pulls out of a deep recession.


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