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GM to Invest $656 Million in Hungarian Plant

American Government Special Collections Reference Desk

Topics:  General Motors, Opel

GM to Invest $656 Million in Hungarian Plant

VOA Breaking News
September 21, 2010

General Motors is to invest more than $656 million to expand its Opel manufacturing plant in western Hungary.

The Hungarian economy ministry said in a statement Tuesday that Hungary would contribute to the expansion in Szentgotthard. The project is set to create 800 jobs by 2012.

The statement touted the project as proof that international investor confidence had returned to Hungary. Opel said in a statement that the plant will have an annual output of 500,000 units by 2015.

The Hungarian economy contracted by more than 6 percent last year, but the government hopes that growth will climb as high as 3 percent next year as the economy rebounds.

Some information in this story was provided by AP, AFP, Bloomberg and Reuters.

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