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Government to grant investor €54.5 million

THE SLOVAK cabinet will support the construction of the new German US Getrag Ford Transmissions plant to the tune of €54.5 million (Sk2.1 billion).

According to the Hospodárske noviny business daily, the cabinet and Getrag Ford have already signed a Memorandum of Understanding on the company's €300 million investment in the Kechnec industrial park, Eastern Slovakia.

According to PM Mikulas Dzurinda, €53.5 million of the sum will be regional assistance for the initial investment and the creation of jobs, and €1 million will be allocated for education and training.

The new Getrag Ford plant will create 1,000 jobs directly and up to 1,500 jobs indirectly.

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

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