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Government to refinance loans for Komárno shipbuilder in southern Slovakia

A shipbuilding company in Komárno will not have to lay off one fifth of its 1,000 workers after Economy Minister Ľubomír Jahnátek agreed to provide long-term loans to build ships from a state-owned bank, the TASR newswire wrote on July 10. The agreement between Jahnátek and Eximbanka will refinance Slovenské Lodenice Komarno's old loans.

A shipbuilding company in Komárno will not have to lay off one fifth of its 1,000 workers after Economy Minister Ľubomír Jahnátek agreed to provide long-term loans to build ships from a state-owned bank, the TASR newswire wrote on July 10.

The agreement between Jahnátek and Eximbanka will refinance Slovenské Lodenice Komarno's old loans.

“They'll refinance 8 to 10 ships a year to provide for continued shipbuilding operations at Slovenské Lodenice Komárno for the years ahead,” said the minister on July 10. “The government has kept a promise made last week during my discussions with the shipbuilder to try to find a mechanism for long-term refinancing.”

During his working visit in early July, the minister found the company's business and investment plan viable in the long term even in the post-crisis period.

“This company must be helped out given that it is a major employer in a region ridden with high unemployment,” said Jahnátek. “At the same time all of its output is exported which Slovakia needs very much right now.” TASR

Compiled by Jana Liptáková from press reports
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