Peugeot to invest 130 million euros in Slovakia

11th April 2011, Comments 0 comments

French car maker PSA Peugeot Citroen said Monday it would invest 130 million euros ($187 million) to launch the production of a new model at its Slovak plant.

"The production of a new model will be launched in 2012 and it will be a new Peugeot model," PSA chief executive Philippe Varin told journalists, as he announced the sum.

He did not specify the car type.

"The investment will create 900 new jobs in Slovakia," he added.

The plant, employing 3,000 people and currently operating in two shifts, plans to launch a third shift and reach its full operation capacity of 300,000 units a year in 2012, he added.

© 2011 AFP

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