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German company might expand production in Slovakia

German company Contitech allegedly plans to invest in expansion of its activities in Slovakia, said Prime Minister Robert Fico during the political talk show O 5 Minút 12, broadcast by public service Slovak Television. He added that the investment should stand at €250 million and might result in the creation of 600 new jobs, the SITA newswire reported on April 8.

German company Contitech allegedly plans to invest in expansion of its activities in Slovakia, said Prime Minister Robert Fico during the political talk show O 5 Minút 12, broadcast by public service Slovak Television. He added that the investment should stand at €250 million and might result in the creation of 600 new jobs, the SITA newswire reported on April 8.

Fico also said that the memorandum of understanding should be signed with the representatives of the company on April 10. Slovakia allegedly defeated the Czech Republic, Poland and Portugal, which also fought for the investment.

“Yes, I can confirm that it is this investment over which we will discuss next week,” said spokesperson for the Economy Ministry Stanislav Jurikovič, as quoted by SITA.

According to the published information, Contitech plans to build a tire plant in Púchov where it already has an active business. The jobless rate in the Púchov district is over 8 percent, accounting for 2,000 jobless people. If this number drops by 600, Púchov will have similarly low unemployment as Bratislava, the Sme daily wrote.

The government wants to support the investment with stimuli for purchase of machines and a tax holiday, Sme reported.

Source: SITA, Sme

Compiled by Radka Minarechová from press reports

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