Two German companies vie for investment stimuli

Porsche might get €2 million from the state for a technological centre near Piešťany.

(Source: TASR)

Porsche and Mühlbauer will invest in Slovakia and get investment stimuli from the government for their projects, which are to be completed by 2023.

The Economy Ministry proposed granting the stimuli to the two German automotive companies. The document has been submitted for interdepartmental review.

The investments will amount to over €25 million and create more than 100 jobs, the ČTK newswire reported.

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Porsche invested €13.59 million through its daughter company Porsche Werkzeugbau (which already has a production plant in Dubnica nad Váhom) to build a technological centre for the automation and robotisation of the automotive industry in the municipality of Horná Streda, near the western-Slovak town of Piešťany. The centre is projected to employ 34 people. The Economy Ministry proposes granting the German carmaker €2 million as investment stimuli.

The Mühlbauer group, which also has a production plant in Slovakia, wants to spend €12 million on building a technological centre in the south of Slovakia, to provide R&D support. The facility should employ 70 people. The ministry proposes stimuli of €3 million for the project.

Both investors are planning their new projects in regions with lower-than-average unemployment rate, ČTK noted.

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