The Italian-owned construction materials producer Metecno Group is to invest €25 million in setting up two plants in Hungary.
Construction works of the first plant, which will manufacture drainpipes as well as roof and wall coverings, will be completed in the first quarter of 2016.
The second factory will launch the production of pre-fabricated composite panels in the first quarter of 2017.
The facility will have a capacity to make 2 million composite panels/year.
Investment costs will be covered from the company's own resources and finance provided by the investment company Meander Holding.
The Italian group has formed a Hungarian subsidiary called Swedsteel-Metecno, and some 150 jobs will be created as a result of the development.
