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Hankook Tires will come to Slovakia

SOUTH KOREAN tyre producer Hankook Tires will build a plant in the southern Slovak town of Levice, investing €500 million (Sk19.6bn) and employing 1,600 people, the Economy Ministry confirmed yesterday. Another 1,000 to 1,500 jobs will be indirectly created due to the investment.

After French PSA Peugeot Citroën and South Korean firm KIA, Hankook Tires will be the third largest green field investor in Slovakia, the daily SME reported.

The South Korean company will occupy an area of 53 hectares in Levice. Slovakia will support the investment with incentives of 21 percent of the investment, a sum of more than Sk4 billion (€100 million).

The cabinet also promised Hankook that the motorway connecting Nitra and Hronský Benadik will be completed by the end of 2009 and a four-lane dual carriageway from Hronský Benadik to Levice by 2010.

Hankook plans to start production in three years time. The Levice plant will also be the company’s European headquarters.

Compiled by Martina Jurinová from press reports
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