BBCASB - Szolnok Citric Acid Plant - Hungary - Project Profile

Synopsis
"BBCASB - Szolnok Citric Acid Plant - Hungary- Project Profile" contains information on the scope of the project including project overview and location. The profile also details project ownership and funding, gives a full project description, as well as information on contracts, tendering and key project contacts.

The "BBCASB - Szolnok Citric Acid Plant - Hungary- Project Profile" is part of Timetric's database of 82,000+ construction projects. Our database includes a 10+ year archive of completed projects, full coverage of all global projects with a value greater than $25 million and key contact details for project managers, owners, consultants, contractors and bidders.
Scope
The project involves the construction of a new citric plant to produce 60,000TPA of acid on 20ha of land at Szolnok in Hungary.

The US$224 million project includes following:

1. Construction of a laboratory

2. Construction of a production unit

3. Construction of a packaging unit

4. Construction of an administrative space

5. Construction of related facilities
Summary
BBCA Szolnok Biochemical (BBCASB) a special purpose vehicle (SPV) formed with BBCA Group Corporation (BBCA) and Szolnok Industrial Park Ltd (SIPL) is undertaking the construction of a new citric acid plant project in Szolnok, Hungary.

The project involves the construction of a citric plant to produce 60,000 Tonnes Per Annum (TPA) of citric acid on 20ha of land. It includes the construction of a laboratory, a production unit, a packaging unit, an administrative space and related facilities.

MFB Invest Zrt is co-investing in the project.

In March 2011, BBCA signed a memorandum of understanding with the Szolnok City Government. In October 2012, BBCA initiated the process of seeking license and government aid to develop the project.

In 2013, the Szolnok City government approved the acquisition by the state of a stake in the plant's project company.

On September 9, 2014, cornerstone for the project was laid.

On September 19, 2015, BBCA signed a syndicated contract with its partners for the project implementation.

On August 16, 2016, BBCA and Hungarian Development bank investment company signed the cooperation agreement for the project implementation.

BBCA won the Hungarian government preferential tax policies and subsidies, building and environmental permits required for the factory.

In April 2017, the Hungarian Development Bank (MFB) agreed to provide US$154 million loan for the project development.

On December 4, 2017, BBCA and MFB signed the loan contract for the construction of a solanic citric acid plant.

BBCA is in the process to start construction works.
Reasons To Buy
• Gain insight into the project.

• Monitor the latest project developments.

• Identify key project contacts.
Key highlights