Government supports HUF 3 billion investment by Bayer Construct
Hungarian real estate developer Bayer Construct has purchased ten tower cranes for 3 billion forints (EUR 8.6m), with the procurement being supported by a 1 billion forint government grant, Finance Minister Mihaly Varga said on Sunday.
The investment will also allow Bayer Construct, which employs over 400 people, to increase its headcount, Varga said on Facebook.
The tower cranes purchased by the company are capable of lifting as much as 12 tonnes to heights of 70-90 metres, the minister said.
Varga said the construction industry was a key sector when it comes to rebooting Hungary’s economy. He highlighted the reduced VAT on home construction, the government’s investment support scheme and the expansion of its home creation scheme as measures designed to boost the sector.