March 20, 2019 / 9:22 AM / a month ago

Germany's Fakt AG to invest 1 bln euros in Hungary horticulture centre -govt

BUDAPEST, March 20 (Reuters) - Germany’s Fakt AG plans to invest 1 billion euros ($1.13 billion) in a horticultural production, processing and logistics centre in western Hungary, the Hungarian Agriculture Ministry said.

Citing Agriculture Minister Istvan Nagy, the statement said the German company would build the processing and logistics units on an area spanning 330 hectares (1.27 square miles).

The project will also include a fish farm, greenhouses, cooling containers, a conference hall and accommodation at a later stage, the statement said.

It cited Fakt AG Chief Executive Hubert Schulte-Kemper as saying the investment would create 5,000 jobs in the area near the western Hungarian border town of Hegyeshalom. ($1 = 0.8818 euros) (Reporting by Gergely Szakacs, editing by Louise Heavens)

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