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Slovakia shortlisted for Hyundai investment

Žilina, Slovakia has been shortlisted as one of the two sites being considered for the construction of a new car assembly plant that the South Korean Hyundai plans to build in central Europe. The second considered site is Radomsko, Poland.

Hyundai had also originally considered the Czech Republic and Hungary as potential destinations for the investment of around $1.5 billion.

The carmaker is expected to make a final decision about the plant's location at the beginning of 2004, according to the SITA news wire.

Building the plant would strengthen Hyundai's position in Europe. During the first half of this year, it boosted its European sales by
34.5 percent year-on-year.

Construction works might take two years. The planned annual production would be 300,000 cars, giving the region 7,000 new jobs.

Compiled by Beata Balogová from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

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