Government approves Sk2 billion in incentives for PSA carmaker

SLOVAKIA will support PSA Peugeot Citroen's planned Sk14 billion investment in its second Trnava car factory with aid of more than Sk2 billion, the government decided on April 19.

The company wants to create 1,800 jobs in Trnava, meaning that the approved incentives represent Sk1.2 million per job, of which Sk600,000 will be provided in the form of direct state aid, the Pravda daily wrote.

PSA will manufacture a new car model at the plant, which should put out 150,000 cars annually.

Together with the first PSA plant in Trnava the carmaker's annual output should reach 450,000 vehicles.

Compiled by Martina Jurinová from press reports
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