Business News

TV Report: EUR 500M Investment Planned in Revoz

Ljubljana, 28 March (STA) - Prime Minister Borut Pahor has indicated Slovenia's industry may shortly expect nearly half a billion euros worth foreign investment. Unofficial but well placed sources quoted by the public broadcaster say the investment concerns Revoz, the Novo mesto-based assembly plant owned by French car maker Renault.

Pahor told RTV Slovenija on Friday that Slovenia was planning to attract foreign investment with subsidies and that shortly a decision would be taken on a nearly EUR 500m worth investment from a European country.

"I'm in talks with the leader of this country [on the investment] which the Slovenian government is certainly prepared to back with a subsidy, as it would pay in the short run let alone in the long term," Pahor said without specifying.

"We've learnt from unofficial but well placed sources that the investment will be made in Revoz, to be minimally subsidised by the state, mainly by subsidising jobs," the broadcaster reported on Sunday.

Renault had announced a while ago it was planning to start assembling new Smart Forfour and Twingo models in Novo mesto in 2013 in cooperation with the German car maker Daimler.

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