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BUSINESS BRIEFS

Steelmaker Arcelor heading to Slovakia

DOMESTIC competition is on the horizon for U.S. Steel Košice, as multinational steel concern Arcelor has announced plans to launch a new operation in the Euro Valley industrial park, north of Bratislava.

The state-run news agency TASR wrote on January 13 that Arcelor would start the construction of the new operation in mid 2004. On an area of 30,000 square metres, Arcelor plans to produce components for the automotive industry and home appliance manufacturers.

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

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

Other Euro Valley projects are counting on investments worth more than Sk2 billion (€49.2 million) and the creation of 400 jobs.

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