The construction work for an engineering and electronic industry plant to be built by Japanese company MinebeaMitsumi started on Friday in Kosice, eastern Slovakia, local media reported.
For this plant, MinebeaMitsumi reportedly will invest at least 60 million euros (65.9 million U.S. dollars) and provide jobs to 1,100 people.
Slovak Prime Minister Robert Fico has praised the company's decision to invest in the underdeveloped eastern Slovakia. "Apart from established sectors as steel production and IT, this region is now getting standard industrial production, which is so typical for Slovakia. From this perspective, Slovakia is the most industrialised country in the EU when it comes to the share of industry on GDP," Fico said.
Operations at the plant, which would be one of Europe's most advanced producers of mechatronic propulsion systems and electric engines for industrial purposes, including the automotive sector, will be launched in the first quarter of 2018.
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