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Spanish investment moves forwardFocus short
26 Aug 2013 Compiled by Spectator staff Foreigners in Slovakia
SPANISH metallurgical company Fundería Condals’ plan to build a production plant near Prešov is closer to materialisation. Representatives of the potential investor and the city of Prešov signed on August 21 a memorandum on cooperation, the TASR newswire wrote.
Josep Maria Noguera, the general director of the Spanish company, confirmed that they are interested in acquiring a 3.5-hectare plot of land in the industrial park IPZ Záborské to build a metallurgical plant. Production, especially for the car industry, should start in May 2015 with 70 employees in the first phase. After the plant is compete, there should be 450 people employed there directly and indirectly. The cost of the project is €20 million.
Although the memorandum has been signed, the two sides have yet to settle on the price for the land. The final decision is in the hands of the deputies of the city council, who should decide on the deal in September.
However, some time ago they adopted a resolution setting a bottom price at €33 per square metre.
As the potential investor’s metallurgical production will consume a lot of electricity, it is requiring that Slovakia build a 1.5-km electric power line. Costs are estimated at €200,000. The Spanish investor also plans to apply for governmental investment stimuli, SITA wrote.
Fundería Condals opened a production unit one year ago with six people in the nearby village of Ličartovce to research the situation in the region, according to Noguera. Nowadays they are convinced that they want to do business in Prešov, but they insist on their requirements as they have other offers.
Representatives of the city of Prešov and Prešov Region welcome the Spanish investor’s plan, as they see it as a long-term investment, since it is not easy to move this type of production facility somewhere else.
The US company Honeywell already operates in the IPZ Záborské industrial park.
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