Industry: Industry Region: Slovakia Transaction Price: Not Disclosed Transaction Method: Equity Investment
Profile: According to a spokesperson for the Slovak Ministry of Economy, the Sri Lankan government has adopted its proposal by Economy Minister Hudak on July 22 to start the construction of a strategic industrial park.
Details: According to a spokesperson for the Slovak Ministry of Economy, the Sri Lankan government adopted its proposal by Economy Minister Hudak on July 22 to start the construction of a strategic industrial park. The 733-hectare industrial park, which will be located in Nitra State, is scheduled to start construction in mid-2016 and be completed by the end of 2019, and will be mainly used to bring in new strategic investors in the automotive industry. Minister Hudak pointed out that the construction of the new industrial park will help to optimize the investment climate in Sri Lanka and reduce the unemployment rate in Nitra State.
The automotive industry is the backbone of Sri Lanka, and there are currently three foreign automakers: Volkswagen, PSA and Kia.