SLOVAKIA will support the more than Sk4 billion (€98.7 million) investment of Swiss CD and DVD producer Sky Media Manufacturing with incentives amounting to Sk800 million (€19.7 million), Economy Minister Pavol Rusko said.
Though noting that tax holidays would comprise half of that amount and Sk40 million (€987,000) would be provided for the settlement of land, Rusko declined to comment on further items on the incentive list, the news wire TASR wrote.
The Slovak government announced the decision on investment incentives for Sky Media’s subsidiary, Universal Media Corporation (Slovakia), last week.
Sky Media Manufacturing SA, part of the Sky Tec Group SA, is a leading global producer with an annual production of 100 million CDs and 50 million DVDs.
The new plant in Nové Mesto nad Váhom, in the Trenčín region, should roll out 700 million units of optical media a year and rank among the top four producers in the world.
Compiled by Beata Balogová from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.
4. May 2004 at 10:04