Potencial investor 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, a state guarantee is required, the news wire TASR wrote.

Marina von Lukovich, the Atlanta-based company's director and consultant for Europe, confirmed the info following her May 17 talks with the mayor of Žilina, Ján Slota.

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 300,000-car factory near Žilina that same year.

Although neither of the two officials wanted to specify the terms and conditions of the financial transaction, both of them spoke about "favourable conditions".

Slota added that, if there was an agreement, money could be in the receiver's account in two weeks.

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