A development project worth HUF 2.6 billion (EUR 8.7 million) has begun at the Hungarian subsidiary of German manufacturing company Rosenberger in Jászárokszállás, Hungary.

The company, which supplies car manufacturing, telecommunications and electronics businesses, is receiving HUF 780 million (EUR 2.6 million) in funding within the framework of the New Széchenyi Plan’s Economic Operational Programme.

Deputy State Secretary for Development Projects Nándor Csepreghy also attended the project launch, and stressed the important role played by Rosenberger and similar domestic and international companies, who produce and employ in Hungary and contribute to the country's GDP growth, in Hungarian economy.

Whereas Hungary was able to use only 16 percent of its European Union development resources for economic development since 2007, in the period beginning in October 2014 this proportion will rise to 60 percent, which is nearly two-thirds of the HUF 7,500 billion (EUR 25 billion) available, the Deputy State Secretary underlined.

In addition to the expansion of the production hall and the purchase of nearly 50 pieces of new equipment, the project will also create 50 new jobs.

The town of Jászárokszállás will also benefit from the project as the soil excavated during construction will be used to repair local roads, Zoltán Gergely, Mayor of the town said. He also pointed out that the town’s new industrial park employs some 4000 people, meaning employment has been practically eliminated.

(Prime Minister's Office)