The Korean car maker Hyundai decided to locate its first production plant in Europe in Żilina (Slovakia) rather than in Kobierzyce near Wrocław
Published:
4 March 2004 y., Thursday
The Korean car maker Hyundai decided to locate its first production plant in Europe in Żilina (Slovakia) rather than in Kobierzyce near Wrocław, marking Poland's third failure to attract major automotive investment over the last few years.
Hyundai wants to start constructing its EUR 700 million factory by June. By 2007, the plant's annual output should reach 200,000 cars and employ some 2,400. The justification of the decision remains somewhat unclear.
The representatives of Hyundai maintain, officially and unofficially, that both Poland's and Slovakia's offers had been highly attractive. It's been presumed, that the Koreans were tempted by the labor costs in Slovakia, which are on average about 15% lower than in Poland. Furthermore, as Economy Minster Jerzy Hausner admits, "Hyundai picked the place with better infrastructure. They have a railway siding, they have a high-quality road, there is accommodation for the Korean workers in Żilina. Our offer lacked all these," he said in an interview with Polish Radio.
Šaltinis:
wbj.pl
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
Reform of the banking system was one of the key themes at this year's World Economic Forum in Davos, with bankers coming in for a lot of criticism.
more »
Small firms have been hard hit by the economic crisis, and so must be given incentives and support, including easier access to credit, help with innovation, tax breaks and less red tape, MEPs on Parliament's Special Committee on the Financial, Economic and Social Crisis (CRIS), and experts agreed at a workshop on Monday.
more »
The elections and investiture of Porfirio Lobo as President of Honduras have cleared the way for the EU to restore normal relations with the Central American country and negotiations for signing a bi-regional Association Agreement may soon resume.
more »
The European Commission has approved applications from Lithuania for assistance under the European Globalisation Adjustment Fund (EGF).
more »
The European Commission has decided to refer Italy to the European Court of Justice (ECJ) on the basis of Article 108(2) of the Treaty on the Functioning of the European Union (TFEU) for failing to comply with a Commission decision of July 2008.
more »
The EBRD is helping to strengthen the financial sector in Bosnia-Herzegovina (BiH) with a €50 million credit line to the Deposit Insurance Agency of Bosnia and Herzegovina (DIA), the Bank’s first investment in a deposit insurance entity.
more »
In its first investment in the natural resources sector in Bosnia and Herzegovina, the EBRD is providing a €17 million sovereign loan to finance the gasification of the Central Bosnia Canton.
more »
The EBRD is increasing the availability of financing to private businesses in Armenia with a $5 million credit line and a $3 million trade finance facility to ArmSwissBank for small and medium companies (SMEs).
more »
On January 27 the European Commission assessed the action taken by Lithuania, Malta, Latvia and Hungary in response to recommendations proposed by the Commission and endorsed by the Council in July 2009 in respect to the correction of their respective budget deficits.
more »
EUROSTAT announced that Lithuania’s GDP rose by 6.1 % in the 3rd quarter of 2009 versus the previous quarter.
more »