ThyssenKrupp is planning to invest more than €97.5m into a steel plant that will supply the Hungarian car industry. According to market sources, the project will be subsidized with HUF 10.6bn by the Hungarian government. The project will take the form of a greenfield investment in the village of Jászfényszaru. ThyssenKrupp is one of the world’s largest steel producers and it plays a key role in Hungary’s industrial output, with the value of its output there rising to HUF 7.83bn in 2015 from HUF 6.69bn in 2014.
