It is reported that the Ukrainian steel group Vorskla plans to build a EUR 650 million steelworks, employing some 1,000 people in an industrial and logistics park in Hungary near the Ukrainian border.

Vorskla is the first investor with plans to locate operations at the park which is scheduled to be completed in November 2010.

A contract for HUF 1.8 billion in European Union support for the construction of the HUF 3.5 billion industrial park in the Zahony region was signed on Monday.

The 170 hectare industrial and logistics park to be built near Fenyeslitke and Komoro is part a combined HUF 32.5 billion in developments planned in the Zahony region.

(Sourced from realdeal.hu)