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Steelmaker Arcelor heading to Slovakia

Domestic competition is on the horizon for U.S. Steel Košice. Multinational steel concern Arcelor plans to launch a new operation in the middle of the year at the Euro Valley industrial park, north of Bratislava, news wire TASR reported.

On an area of 30,000 square metres, Arcelor plans to produce components for the automotive industry and white goods technology.

Deputy chairman of the Bratislava regional self-government Milan Vaškor said the primary investment should reach Sk600 million (€14.7 million) and create some 100 jobs.

Another important project under way for Euro Valley park is the investment of Swiss glass company Glas Troesch AG, worth Sk7.5 billion (€184.3 million), which projects 300-400 new jobs. Once the state aid for the project is settled, the investment memorandum should be signed and construction could begin perhaps in 2004.

Other Euro Valley projects predict investments worth more than Sk2 billion (€48.8 million) and the creation of 400 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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