German car maker BMW will postpone the opening of its plant in Debrecen, in eastern Hungary, by a year because of the impact of the coronavirus pandemic, chairman Oliver Zipse said on a conference call after the release of the company’s first-quarter earnings report on Wednesday.

In the current situation, we are carefully reviewing all our projects as a matter of principle, Zipse said.

Construction of the 1 billion euro plant in Debrecen was slated to start in the spring. The plant will employ about 1,000 people and have a capacity to turn out around 150,000 vehicles a year, Hungary Today reported. Commenting on BMW’s decision, Foreign Minister Peter Szijjarto said BMW remains committed to the plant in Debrecen.

We had talks with the company’s executives today, too, and they assured us that they naturally remain committed to the construction of the plant in Debrecen. Next Friday, I will meet personally with the plant’s incoming managers and the people in charge of the project who are coming to Debrecen, he said in a Facebook post.