IN SHORT OF BUSINESS

Kia stays positive over investment

The management of the Hyundai/Kia car manufacturer praised the Slovak government's attitude in meeting its terms with regard to the construction of a car assembly plant near Žilina in northern Slovakia.

Economy Minister Pavol Rusko met Kia Motors Corporation vice-president Chung Eui Sun on September 10.

"We agreed that falling behind schedule is a common problem. Nobody talked about penalties and the investor wants to stay in Slovakia," Rusko told news wire SITA.

The construction of the plant should be officially launched by October 15, Žilina Mayor Ján Slota informed SITA last week.

Slota said that companies Govinvest 1 and Govinvest 2 will offer alternative land to owners of plots who are refusing to sell their land.

During the talks with vice-president Chung, the Hyundai/Kia project general manager, Stanislav Vinc, agreed on the procedure and terms of implementation of the construction.

Vinc believes that the October 15 deadline will be met.

The purchase of land plots for Kia Motors has been complicated by the state, by offering much lower prices than the landowners demanded for their lands.

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