Austrian-owned BNRG Kft plans to build a 15-megawatt biogas-fuelled power plant outside Vép, west Hungary, daily Napi Gazdaság reports. BNRG will spend some HUF 14 billion on the facility, which will be designed to produce electricity as well as biofuel. The company also has plans for a 19.9-megawatt biomass-fuelled plant worth about HUF 17 billion...

Car production has escalated dramatically since last year, with General Motors Poland in Gliwice leading the way with the highest results, reports Dziennik Gazeta Prawna. The plant shipped out an estimated 16,000 cars in May, over 21 percent more than the same time last year. Since the beginning of the year, the factory has produced 80,600 cars (a 32 percent...

The Egger Group is to take over the Russian particleboard manufacturer Gagarinskiy Fanerniy Zavod at Gagarin, 150km west of Moscow by the end of June. The contract was signed on May 20 and the purchase price was not disclosed. The acquisition of the Russian particleboard producer was carried out subject to the approval of Russian cartel authorities. The Gagarin...

The Hungarian unit of Korea's Hankook Tire signed an agreement for a EUR 70 million syndicated loan on May 27, Raiffeisen Bank Hungary told MTI. Hankook will use the five-year amortizing loan to refinance its existing credit. The syndicate includes Raiffeisen Bank Hungary, Raiffeisen Bank International, UniCredit Bank Austria and K and H Bank....

Chinese Foreign Minister Yang Jiechi met with the Hungarian Foreign Minister János Martonyi on Sunday to discuss ways to deepen bilateral relations between their countries. China-Hungary relations have been developing steadily, with a mutually beneficial cooperation, while coordination deepened constantly in the recent years on all fields, Yand commented...