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
The European Commission has today decided to close the formal investigation procedure into the agreement between Bratislava Airport in Slovakia and Ryanair after concluding that the airport operator acted as a market economy investor and therefore no advantage has been granted to Ryanair.
more »
The coffee industry of Jamaica represents one the largest earners of foreign exchange, approximately US$30 million in 2008.
more »
On January 13, 2010, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation with Mauritius.
more »
The World Bank's International Development Association and the International Monetary Fund have agreed to support US$1.6 billion in debt relief for the Islamic Republic of Afghanistan.
more »
The Common Agricultural Policy plays a critical role in helping farmers to deliver environmental goods and services, provided that policies are targeted in the right way.
more »
Regional Policy Commissioner Paweł Samecki will meet Croatia's Prime Minister Jadranka Kosor and members of her government in Zagreb on 25-26 January to discuss the country's preparations for accession in the context of the EU cohesion policy.
more »
The World Bank Board of Directors today approved US$20 million for the Dominican Republic in support of the Municipal Development Project, which aims to improve the technical and financial capacity of local governments.
more »
The European Investment Bank (EIB) is lending EUR 400 million to Ford Romania SA for the expansion and refurbishment of the company’s existing car assembly plant located in Craiova in the South-West of Romania.
more »
The Agriculture Council of the European Union has examined ways to improve the functioning of the food supply chain with the ultimate aim of controlling the fluctuation in prices and ensuring a more equitative distribution of the added value throughout the chain.
more »
The European Commission has today approved an application from Lithuania for assistance under the Globalisation Adjustment Fund (EGF).
more »