Hungarians deserve respect for their achievements of the past two years since they have succeeded in making the country a front-runner in the region, Prime Minister Viktor Orbán said on Wednesday.

At a foundation stone laying ceremony for a new power plant of the Dunaújváros paper factory, he stated that Hungary is in the running for the title of fastest developing and most strategic country. He added that "we are in a great race" with the other countries of the region.

Photo: Gergely Botár

Speaking about the 45 billion forint investment by the Prinzhorn Group, he pointed out that the company provided work for 2,300 families and the new factory would create 60 new jobs.

Attila Bencs, managing director of Prinzhorn unit Hamburger Hungária, said the plant would cover the factory's entire demand for heat and electricity. It can run on biomass, coal, biogas and waste paper, he added. The plant will start operating in the second half of 2015.

Hamburger Hungaria is Hungary's biggest paper recycler, turning out more than 650,000 tonnes of corrugated cardboard a year. It has annual revenue of 70 billion forints.