Philip Morris International inaugurated a HUF3 billion ($10.16 million) e-cigarette recycling center on the outskirts of Budapest this week, reports the Budapest Business Journal, citing state news wire MTI.
The center can recycle 150,000 electric tobacco devices a month, but capacity can be increased, according to PMI Sustainability Director Miguel Coleta.
The company picked the site because of Hungary’s economic stability and the favorable investment environment, he added.
State Secretary Tamas Menczer said the investment created 100 jobs, noting that PMI has just one other recycling center, in Japan.
PMI earned more than HUF230 billion in Hungary last year.