PSA confirms new investment, incentives to reach Sk2.1 billion

CARMAKER PSA Peugeot Citroën confirmed yesterday that it would invest an additional Sk14 billion into a new plant in Trnava, where a new model of car should be produced by 2009. The Trnava plant should thus produce 450,000 instead of the originally planned 300,000 cars per year.

PSA, which has already committed to invest Sk 26.5 billion in Slovakia, had been deciding between Slovakia and Russia as the location of its new investment. Slovak PM Mikuláš said that PSA chose Slovakia because of its previous experiences with the country, its reforms, and Slovakia's planned entry into the eurozone, the Pravda daily wrote.

The state will support the new PSA investment with incentives totaling Sk2 billion, and will provide an additional Sk183 million for the job creation and education.

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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