The hungry valleys get investor

A German automotive supplier wants to invest €33 million in Veľký Krtíš.

Illustrative stock photoIllustrative stock photo (Source: Sme)

The German company SAM Automotive plans to create a total of 805 jobs on the former premises of lorry manufacturer LIAZ in Veľký Krtíš (Banská Bystrica Region). Prime Minister Peter Pellegrini (Smer) announced the investment after an away-from-home cabinet session last week.

Veľký Krtíš is one of regions suffering from high unemployment rates and is often called ‘the Hungry Valleys’. In April, its unemployment, calculated from all jobseekers, was 10.35 percent, based on data from the Labour, Central Office of Social Affairs and Family (ÚPSVaR).

“What is immensely good is that out of those 805 jobs, roughly 600 will be blue-collar and 205 posts will be more skilled as well as better paid because there’ll also be some laboratories and research and development,” said Pellegrini, as cited by the TASR newswire.

He specified that overall it will be highly sophisticated production with high added value.

“They are not a standard manufacturer of cable harnesses,” said Pellegrini. The manufacturer’s products include vehicle roof racks and chrome trims for vehicle windows.

As long as it obtains all building permits, production in Veľký Krtíš could be launched in September.

The total investment should reach about €33 million, with the investor seeking investment aid from the state.

“The support per job would be only €11,000, which is one of the lowest sums within Slovakia’s average and previously approved investment aid,” said Pellegrini, adding that there should not be any problem with approving such assistance.

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