Electronics Production |
Slovakian state to pay 23%<br>of Samsung's new plant
evertiq.com reported earlier that Samsung will invest in Slovakia to build a new LCD plant. The Slovakian goverment will give Samsung 23.4%, or EUR 74.9 million for the investment in the LCD plant.
According to the contract which the Slovakia government and Samsung has signed, the government will provide EUR 51.2 million as a direct grant, EUR 18.7 million in tax relief and EUR 5 million as a contribution to new employee wages.
The European Commission must approve the funding. If the country misses the deadlines set out in the contract, it risks losing the companys investment, local media reports.
