Shanghai Based Semcorp Builds First Non-Chinese Based Factory

The value of the investment by Semcorp is HUF 65.5 billion, the Minister of Foreign Affairs and Foreign Affairs Péter Szijjártó announced the results of his two-year negotiations in his latest Facebook on Tuesday.

The Minister explained that the new factory of the Shanghai-based company that is the world’s leading company for the production of separator foils for electric car batteries will be built in Debrecen. The investment will create 440 new jobs, therefore the government will provide HUF 13 billion in non-refundable support for the development.

The factory will start operating on a huge area of ​​19 hectares where a 100,000-square-meter plant will be established. He also emphasized that Debrecen has competed with three other European countries for this investment but it will finally provide Hungarian people with new job opportunities.

Semcorp’s new plant in Debrecen will serve the needs of the European market, as the automotive industry will undergo a significant transformation in the next period, and the focus will increasingly shift from conventional propulsion to electric propulsion, he recalled.

Péter Szijjártó also spoke about Hungary being one of the strongholds of the traditional automotive industry in Europe, and following the recent investment decisions, Hungary will become a stronghold of the new electric car industry within Europe.

With this investment, the total value of Chinese investments made in Hungary will increase to over $5 billion, and the number of employees employed by Chinese companies in Hungary will also exceed 15,000.

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