Construction of Pioneering European Tech Facility to Commence in Hungary by Leading Singaporean Enterprise
In a significant development for the city of Bekecsaba and the surrounding region, Vulcan Shield Global, a Singapore-based company, has announced plans to establish a high-tech factory by 2033. This investment marks a historic moment, hailed by County Governor Árpaď Takačs and local officials as a milestone.
The factory, scheduled to be completed in two phases between 2029 and 2033, will span 140,000 square metres and employ a workforce of 2,500 individuals. The first two facilities, due for completion by 2029, will create 1,200 jobs initially.
Vulcan Shield Global specialises in the production of high-tech insulating materials capable of withstanding temperatures of up to 1,600 degrees Celsius. The factory's annual production capacity will be 10,000 tonnes of insulating products.
This will be Vulcan Shield Global's first factory in Europe, and the Hungarian government is offering its support with a substantial investment of 49 billion HUF. Foreign and Trade Minister Péter Szijjártó is backing the project with a state subsidy.
Mayor of Bekecsaba, Szarvas Péter, described the investment as a 'red-letter day' for the city. The project, valued at 280 billion HUF, is the largest ever made in both the city and the county, marking a significant boost to the local economy.
Once the entire complex is finished in 2033, it will provide 2,500 jobs in Bekecsaba, contributing to the growth and development of the region. The factory will be Vulcan Shield Global's first foothold on the European continent, signifying a promising future for both parties involved.
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