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Automotive company expands production in Slovakia due to investment of Jaguar

Xinhua, August 19, 2016 Adjust font size:

A company Gestamp Nitra will build a new plant for manufacturing steel and aluminium pressed parts for the automotive industry in the Luzianky area of Nitra district in western Slovakia.

"The company is planning to invest around 100 million euros (112 million U.S. dollars) between 2016-18 and to create 229 new jobs by 2021. The entire output of the new plant will be sold to car manufacturers in Slovakia," announced Slovak Economy Minister Peter Ziga on Thursday.

According to Ziga, it is a subcontractor for Jaguar Land Rover "I think that the current situation in Slovakia is favourable for investment. We're witnessing a number of meetings with potential investors or with investors already operating in Slovakia that want to expand their investments," added Ziga.

Gestamp Nitra was founded in August 2014 under the business name of Kalegra. It mainly engages in producing vehicles, engines, parts and accessories for vehicles. Its sole shareholder is Spanish company Gestamp Automocion from the town of Abadiano.

Jaguar Land Rover will start to construct a major plant for some 1.5 billion euros (1.7 billion U.S. dollars) with a production capacity of 300,000 vehicles yearly in September in Nitra. The first cars should roll off the production lines in 2018.

The carmaker will create roughly 3,000 new jobs directly and another 15,000 indirectly. Endit