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Seven investors receive state aid in millions of euros

Investments allocated to less developed districts, while some of them include R&D.

Illustrative stock photo(Source: Sme)

The Slovak cabinet approved, on Wednesday, July 11, state aid for seven investors, totalling €29.5 million. The investment projects of Adient, EMI-Sabinov, Memolak, Brose Prievidza, Neuman Aluminium, Mubea, and Vigour are to create almost 1,300 new jobs. The companies should cumulatively invest more than €125 million in Slovakia.

The investment stimuli are, as the Economy Ministry claims, in line with the strategy to reduce regional differences and support investments with higher added value. Out of the supported investments, four will head toward the least developed districts of Slovakia, creating more than 600 jobs.

Read also:Automotive suppliers will invest further millions in Slovakia.

Two companies, Mubea in Kežmarok and Brose in Prievidza, will offer an added value in the form of R&D activities. In the case of Brose, which plans to invest €57.4 million in expanding its factory in Prievidza, Economy Minister Peter Žiga recalled that this is an investment into the mining region of Upper Nitra, in which its transformation is currently being discussed. Žiga further pointed out to the creation of the Vigour company in Prešov, where there will be a centre for strategic services along with positions for IT experts.

Out of the stimuli approved by the cabinet, the one for the German company Mubea is the biggest. This supplier of the automotive sector plans to build a new plant in the industrial park in Kežmarok. Mubea wants to invest €51 million while it will receive stimuli of almost €15 million. From 504 job positions, 115 will account for R&D activities.

Brose, the largest investor in this group, plans to invest €57.4 million in expanding its factory in Prievidza, manufacturing components for the automotive industry. By the end of 2022, 350 new jobs should be created, about 100 in R&D. The stimulus should reach €8.1 million.

Adient plans to expand its plant for the production and assembly of foam parts for the automotive industry in Lučenec. Thanks to this investment this less developed district should gain 105 new jobs. The investment is planned at €3.5 million and the stimuli will be €1.5 million.

Lučenec is also the target of another investment. The Memolak company wants to build a new cataphorese painting plant for €600,000. The aid will be €120,000.

Another investment is heading to Sabinov. The textile and clothing producer EMI-Sabinov plans to invest €742,000 into a new production unit. The aid should be €300,000.

In Žarnovica, a new Austrian Neuman Aluminium plant is supposed to be built. It will manufacture aluminium car parts. The investment is projected at €11.5 million while the stimulus will be €3.9 million. About 215 people should start working at the plant by the end of this year.

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