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US company to invest $200m in highways, requires state guarantee

THE US company Sovereign Financial Group is willing to invest €200 million (€169 million) in the construction of highways in Slovakia. However, they require a state guarantee, the news wire TASR wrote.

The investment offer was confirmed by the Atlanta-based company's director and consultant for Europe, Marina von Lukovich, following her May 17 talks with Jan Slota, the mayor of Žilina.

In association with the new Kia car plant, Slovakia's government took the obligation to complete the Bratislava-Žilina highway by November 2006.

Kia Motors wants to launch its new factory, which will make 300,000 cars a year, near Žilina that same year.

Although neither of the two officials wanted to specify the terms of the deal, both of them spoke of "favourable conditions".

Slota said that, in the case of an agreement, money could be in the receiver's account in two weeks.

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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