Japanese electronics group Sanyo has decided on the construction of a new JPY 2.5 billion (HUF 4.5 billion) plant in Hungary

Japanese electronics group Sanyo has decided on the construction of a new JPY 2.5 billion (HUF 4.5 billion) plant in Hungary, next to its already operational production unit in Dorog (north of Budapest), Hiromoto Sekino, chairman of Sanyo Electric Co. Ltd. announced in Budapest on Tuesday. The new 10,000 sqm plant will produce photovoltaic modules (solar batteries) and industrial-use air conditioners. Construction will begin in December, while production is slated to launch in October 2005. By the time production gears up in September 2006, the capacity of the factory will reach 120,000 units per year. With the investment, the headcount at Sanyo Hungary Kft will increase from the current 1500 to 2000, Sekino said. The Hungarian unit is already the largest producer in Europe of lithium-ion batteries, and with the new project, will become the biggest maker of photovoltaic modules in Europe. Economy minister Janos Koka welcomed the fact that the jobs being created by Sanyo are high added value. He noted that in the last 15 years, over 100 Japanese companies have invested a total of USD 2 billion in Hungary, creating 16,000 jobs. Since its establishment in 1999, Sanyo Hungary has received HUF 1 billion in various forms of state support, he added.