A time capsule has been placed in the ground as foundation stone for the citric acid plant about to be constructed under a joint, HUF 34bn Hungarian-Chinese investment project in Szolnok.
As Minister for National Economy Mihály Varga said when the Government announced the “Opening to the East” policy back in 2011 many people were sceptical. However, as in Europe countries are stagnating, the Government had to find other options and markets for enterprises. From this aspect, China was the right choice, as its doors were open and it is a country with which Hungary has had no conflicts or disagreements, although it is quite rare these days for countries not to “squabble” sometimes, the Minister stressed.
The investment project of BBCA Group Corporation is yet another milestone of the dynamically developing Hungarian-Chinese relations the Minister said adding that the company has been active in seventy countries all over the worlds, employs thousands of people and it owns a number of development projects and patents, “therefore it is likely they think twice before making a decision on the country they want not only to trade with but invest in.”
HE China Ambassador Xiao Qian stated that economic relations between Hungary and China have been based on firm foundations and will be fruitful in the future. Last year, the volume of bilateral trade totalled USD 5.4bn, up by 9.5 percent, while Hungarian exports to China soared by 28 percent and the volume of investment by Chinese enterprises exceeded USD 3bn.
China Embassy Chargé d'Affaires Chen Xiaojun also emphasised the importance of Hungarian-Chinese relations, while BBCA Group Chairman Li Rongjie expressed his gratitude to the Government of Hungary, banks, the municipality of Szolnok and every project participant for having assisted in completing the facility. He pointed out that they are aiming to build a high quality factory which can also contribute to the growth of the region’s economy.
Szolnok Mayor Ferenc Szalay (Fidesz) said he hopes that a test run can be launched at the facility as early as the end of 2015.
According to preliminary estimates, the citric acid factory – planned to be completed in one-and-a-half years -- will provide 440 new jobs and produce some 60 thousand tons of citric acid per year for which it needs 106 thousand tons of corn annually. The raw material will be transported to the facility from within a 100-kilmetre radius around Szolnok.
As Deputy Minister of External Economy and Foreign Affairs Péter Szijjártó announced on 2 September, another Chinese enterprise, the RZBC Group will also build a citric acid factory in the city of Kazincbarcika. This HUF 30bn project will provide work for 165 employees and produce some 100 thousand tons of citric acid out of 200 thousand tons of corn as raw material.
(Ministry for National Economy)
