April 16, 2007

Hungary investors to build US$110.3 million bio-ethanol plant
 

A group of Hungarian investors is planning to build Hungary's first bio-ethanol plant at an estimated cost of 20 billion forints (US$110.3 million) in the Eastern Hungarian town of Kaba, business daily Napi Gazdasag reports Monday.

The plant, which will produce 300,000 litres of bio-ethanol a day using 300,000  tonnes of corn a year, is slated for completion by next spring.

80 percent of the investment costs will be financed with bank loans, the rest with the company's own capital, the paper quoted Lajos Juhasz, managing director of Elso Magyar Bioetanol Kft., the company carrying out the project, as saying.