Slovakia signs investment contract with Jaguar Land Rover
BRATISLAVA, Dec. 11 (Xinhua) -- The Slovak Government signed an investment contract with carmaker Jaguar Land Rover at the Government Office on Friday.
"The investment of Jaguar Land Rover has been the biggest investment in Europe in last seven years," stressed Slovak Prime Minister Robert Fico.
Jaguar Land Rover, a subsidiary of Indian carmaker Tata Motors, has chosen Nitra as the location for a new plant with a manufacturing capacity of 300,000 cars a year.
The publicly available "Automotive Nitra Project" states as part of the EIA process that the factory with an annual output of between 150,000-300,000 cars will create 2,000-4,000 new jobs. The investment costs should exceed 1 billion euros (1.1 billion U.S. dollars). It's expected that the construction work could begin next year, with operations at the 200-300 hectare greenfield site to be launched in 2018 or 2019.
The Slovak Cabinet and the British carmaker signed a memorandum of understanding on Aug. 11. The choice of Slovakia was preceded by a thoroughgoing analysis of various locations in Europe, the United States and Mexico. A strong supply network and good logistical infrastructure were seen as being in Slovakia's favor.
Three carmakers already have plants in Slovakia -- Volkswagen in Bratislava, PSA Peugeot-Citroen in Trnava in the Western Slovakia and Kia in Teplicka nad Vahom near Zilina in the Northern Slovakia.