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Slovakia wins Hyundai investment

CARMAKER Hyundai has decided to build a new plant in Slovakia. Several world news wires have cited Hyundai top management saying that Slovakia is the favourite for the $1.5 billion (€1.2 billion) plant investment of the South Korean company, the daily SME wrote.

Hyundai officials are expected to announce their decision at the Geneva car fair on March 2.

Economy Minister Pavol Rusko has also implied that the country scored the victory. Rusko based his optimism on a quote from a Hyundai executive who said "Slovakia is still the strongest candidate."

Late last year, Slovakia and Poland were shortlisted by Hyundai for the site of the Kia Motors production unit, which will have an estimated annual output of 200,000 cars, beating out the Czech Republic and Hungary in a battle for the major greenfield investment.

Polish Economy Minister Jerzy Hausner has also said that Slovakia offered the Koreans better infrastructure.

"If we fail to secure this investment... it will only be because the site offered by Slovakia has access to rail transport as well a modern road network. Unfortunately, we're probably going to lose the investment due to poor infrastructure," Hausner told the Polish news agency PAP.

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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