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Hankook deal still a possibility

SLOVAKIA wants to renew talks with South Korean tyre producer Hankook Tire. Economy Minister Pavol Rusko was expected to meet with the Hankook vice-president last night, the daily SME reported.

The results of the meeting were not available immediately in the morning.

Economy Ministry spokesman Maroš Havran said, however, that the two parties were going to try and reach an agreement over an acceptable amount of investment incentives.

The Slovak cabinet rejected the originally required incentives for Hankook earlier this week. The Korean company was due to invest €500 million into a new plant in the town of Levice.

The company required some Sk4.28 billion (€111 million) in stimuli plus Sk1.22 billion (€31 million) in the form of tax breaks. The company also wanted the state to enlarge an existing road to Levice, which would cost the state a total of Sk7 billion (€182 million), SME wrote.

Later Hankook decreased the amount of incentives by almost Sk1 billion (€26 million) but the cabinet ministers still considered this to be too much.

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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