Spectator on facebook

Spectator on facebook

Cabinet approves investment aid for Trnava carmaker

The Slovak cabinet approved investment aid of €18.6 million for Peugeot Citroen Automobiles Slovakia (PCA Slovakia). Slovakia fought for the investment with France, Economy Minister Peter Žiga stated.

PSA Peugeot Citroën (Source: TASR)

The cabinet approved the investment incentive for the Trnava-based plant of French carmaker on May 10, the SITA newswire wrote. The whole amount is intended for a new investment project to expand production of a new “B segment” model and it will be provided in the form of tax relief.

The investment project will create 420 new jobs and the car producer will invest another €165 million. Once the investment plan is completed, the current production capacity will be boosted from 300,000 to 360,000 vehicles per year. Of the company's new model, 180,000 units should be made in Trnava. Production of the new model should begin at the end of next year. Full production capacity will be achieved in 2020.

“We fought for this investment with France, which is the mother country of PSA,” minister Žiga said, as quoted by the TASR newswire. “Had we not offered the investment stimulus, it is possible that the company would move production back to France,” he added.

“The implementation of the investment plan with justified investment expenses of the nominal sum of €99 million is spread over 2016 to 2021, the ministry writes, as cited by TASR. “In direct connection with the investment plan, the applicant will create 420 jobs by the end of 2018.”

The French car company started to produce its fourth model in the Trnava plant at the end of 2016: the new Citroën C3 model.

The processing of personal data is subject to our Privacy Policy and the Cookie Policy. Before submitting your e-mail address, please make sure to acquaint yourself with these documents.

Topic: Automotive


Top stories

Rules for hiring foreigners are simpler. For exceptions

Despite positive changes, employers still point to some barriers preventing more effective and simpler recruitment of foreign workers.

Some problems with Foreigners’ Police continue.

For a Decent Slovakia protests to resume on Friday

After a summer break, organisers of the protests that have drawn masses to Slovakia’s streets stated that their – and the citizens’ – demands are far from being met.

For A Decent Slovakia march on June 22, 2018, in Bratislava.

News isn’t negative because journalists are cynical

The problem is caused by the demand side.

What is it like to study at a foreign college? Students explain to high-schoolers

Some Slovak students who study abroad already have work offers.

Students during the workshop