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Discussions between Slovak gov't, Jaguar Land Rover successful: minister

Xinhua, November 6, 2015 Adjust font size:

Discussions between Slovakia and carmaker Jaguar Land Rover are proceeding successfully, announced Slovak Economy Minister Vazil Hudak at Tatra Summit in Bratislava on Thursday.

"I can disclose that I had a discussion with a Land Rover representative for Slovakia and a manager of this project at which we evaluated the overall process. We're in the negotiation stage. Satisfaction from both sides was expressed and I believe that we can be specific soon," explained Hudak.

Hudak added that two proposals for an investment agreement between the carmaker and the government are on the table.

"I believe, as we said earlier, that by the end of this year at the latest the official signing of these agreements will take place," said Hudak.

The Slovak Finance Ministry considers the arrival of a new carmaker to be a "positive risk" for the Slovak budget, as it could contribute to increasing Slovakia's economic growth next year.

The carmaker signed a memorandum of understanding with the Slovak government to build a plant on a greenfield site near Nitra in August. It's expected that the plant at Nitra will create 2,000 to 4,000 new jobs. The investment costs for now have been calculated at exceeding 1 billion euro (1.09 billion U.S. dollars), and the construction work on the 200 to 300-hectare site is set to commence in 2016, with production to be launched in 2018 or 2019. Endit