Žiga: Nemak and Franke projects most critical for Gov’t

Government greenlights investment stimuli for four projects.

Economy Minister Peter ŽigaEconomy Minister Peter Žiga (Source: TASR)

The most critical investments among the four projects approved by the government on February 22 are the investment projects of the companies Nemak Slovakia and Franke Slovakia, Economy Minister Peter Žiga said after the cabinet’s session.

“Then there are two other investments slated for the least developed regions: Lučenec (Banská Bystrica Region) and Betliar near Rožňava (Košice Region),” said Žiga as cited by the TASR newswire. “It’s part of the action plan that the cabinet has drafted within the past year based on away-from-home sessions and talks in the regions,” said Žiga, adding that the government will attempt to encourage investors to make investments in the less developed regions.

Read also:500 new jobs to be created Read more 

On February 22, the cabinet approved investment aid for four companies: Franke Slovakia, Nemak Slovakia, D&J Design, and Frafák & Fafrák. The overall sum of investment aid equals approximately €11.1 million. By realising their investment intents worth €88.48 million, the firms in question are expected to create some 500 jobs within the coming years.

Requesting investment aid of €3.9 million in the form of tax relief, Franke Slovakia plans to build a new factory in Strečno (Žilina Region) to produce coloured kitchen sinks. The firm will invest €26.96 million in 2017-2018 and is due to create 240 new jobs.

Nemak Slovakia requested aid worth €6.19 million in the form of income tax relief. The firm plans to extend its existing industrial production facilities that manufacture aluminium castings in Ladomerská Vieska (Banská Bystrica Region) at the cost of €59.38 million by the end of 2018 and create 210 new jobs.

D&J Design is requesting investment aid of €910,319 to extend its furniture production in Lučenec and it plans to invest €2 million in 2017 while creating 40 jobs.

Asking for investment aid of €76,994 to expand its existing sawmill production, Frafák & Fafrák is geared up to invest €139,990 and create 10 jobs by the end of 2017.

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