New power station to be built in Szeged

German and Swiss investors are to build an 800-MW power station in the southeastern Hungarian city of Szeged. The project is to be completed in 2015.

The German engineering conglomerate Siemens takes part in the investment-development of two power stations of combined (gas-steam) cycle in the German province of Brandenburg and in Hungary.The total value of the project is around EUR 1.5 billion. During the three-year construction period of the Hungarian power station in Szeged, supplies will require the employment of about 1,000 people. The actual operation will provide permanent employment for 50 highly skilled staff.

In the framework of the power station project, Siemens Project Ventures acquired 50% ownership in the project companies of the Swiss Advanced Power AG responsible for the construction. The start of construction works of the Szeged power station is scheduled to start in 2012 and must be completed by 2015 and must adhere to the strictest environmental standards as far as emission is concerned. The Hungarian power station that will have the capacity of 800 Megawatts once completed means a total investment of HUF 150 billion, that is, EUR 530-540 million.