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Kia Motors awaiting green light on further state subsidy

Car maker Kia Motors Slovakia may get a state subsidy of Sk1.15 billion to expand production, according to a proposal that the Economy Ministry has submitted for comment. If the government gives a green light to the subsidy, Kia will launch the project at its Teplička nad Váhom-Mojš plant (Źilina Region) by the end of this year.

The planning of the construction and the recruitment and training of staff are to start this year. Mass production should be launched in 2008. The project is to be financed from the Economy Ministry budget for next year. The Kia car plant in Žilina plans to produce 150,000 cars this year, and with the increased production facility, 250,000 cars in 2008. Its full capacity of 300,000 cars a year should be reached in 2009, after a third shift is introduced. - TASR

Compiled by Zuzana Vilikovská from press reports
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