Spectator on facebook

Spectator on facebook

Public expenditures linked with Hyundai/Kia to reach Sk8.8 billion

THE SLOVAK cabinet approved draft contracts on investment with South Korean automaker Hyundai Motor Company that set expenditures linked with the project at Sk8.8 billion (€216.66 million), the news wire SITA wrote.

Almost Sk6.8 billion (€167.42 million) will go directly to the investor, and other public expenditures linked with the project will total Sk2 billion (€49.24 million).

In 2004, the public expenditures linked with the project will amount to Sk2 billion, Finance Minister Ivan Mikloš said.

According to Mikloš, Sk400 million (€9.85 million) of the investment will return to the state budget via taxes.

In the contract, the Slovak government promises maximum support when securing conditions for the investment.

The contract between the Slovak Republic and Hyundai Motor Company should be signed on March 16 or 17 and the cornerstone of the plant laid on April 7.

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

Top stories

General Prosecutor filed a motion for the dissolution of ĽSNS

The Slovak Supreme Court received a motion to dissolve the extreme right ĽSNS party founded and led by Marian Kotleba.

Jaromír Čižnár

Russian spies allegedly recruit also Slovaks

They are using martial art clubs in Germany and dozens more in other EU states, in the Western Balkans, and in North America.

Illustrative stock photo

EC scrutinises state aid for Jaguar Photo

There is a question whether the scrutiny may impact the carmaker’s plans to invest in Slovakia.

The construction site of a brand new plant of Jaguar Land Rover near Nitra.

GLOBSEC forum will host guests from 70 countries

The 12th year of the conference will be attended by the highest number of participants in its history.

Slovak President Andrej Kiska gives the opening speech of The Globsec 2016 security conference.