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Peugeot Citroën plans to boost investment

FRENCH carmaker PSA Peugeot Citroën plans to increase its investments in Slovakia by €357 million (Sk13.5 billion) from the original €700 million (Sk26.4 billion).

The increased investment would also bring another 1,800 direct jobs to the originally planned 3,500 and would create around 9,000 additional jobs in the supplier companies, the Hospodárske noviny daily wrote.

The car production would increase from the original 300,000 to 450,000 per year by 2009 and PSA would thus become Slovakia's biggest car producer.

The South Korean carmaker KIA plans to produce 300,000 vehicles per year at its new plant near Žilina, while the Volkswagen in Bratislava is planning to reach the same level within the next few years.

The increased investment would result in higher state incentives for the investor. According to the daily, the Slovak cabinet has already discussed the latest PSA project. However, there is an embargo on the outcomes of the talks.

Compiled by Martina Jurinová from press reports
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