UPDATE 1-Foxconn CEO says investment for display plant in U.S. would exceed $7 bln
* Has considered plan for years; leaked by Softbank in December (Adds further comment from Foxconn CEO)
(Adds quote, further details, background)
LJUBLJANA Jan 12 Canadian car parts maker Magna International Inc. is to build a new paint shop in Slovenia, expecting to create about 400 jobs, the company said on Thursday.
It said the facility would serve Magna's contract vehicle assembly plant nearby in Graz, Austria.
"Construction is scheduled to begin in the second quarter 2017 and the company expects to create approximately 400 jobs," Magna's spokesman Rej Husetovic said in a statement.
In December the Slovenian parliament passed a new law to speed up the purchase of land in northeastern Slovenia where Magna is due to build its plant, the aim being to attract its investment, seen to be worth at least 100 million euros ($107 million).
The news comes a day after Revoz, a Slovenian subsidiary of France's Renault, said it would create 340 new jobs at the end of January with the start of production of its new Clio 4 car in March.
Cars and car parts constitute a large part of Slovenian exports which are the main driver of the country's economy. The small euro zone state of 2 million citizens expects its economy to grow by 2.9 percent this year, following a 2.3 percent growth rate in 2016.
The jobless rate in Slovenia fell to a seven-year-low in September to 10.3 percent. ($1 = 0.9391 euros) (Reporting By Marja Novak; Editing by Greg Mahlich)
KINSHASA, Jan 22 China Molybdenum Co Ltd (CMOC) said on Sunday that it has signed an agreement with Chinese private equity firm BHR to support BHR's acquisition of a 24 percent stake in Democratic Republic of Congo's giant Tenke copper mine.
WASHINGTON, Jan 21 President Donald Trump is ordering federal agencies to undermine Obamacare through regulatory action, a move that could weaken enforcement of the requirement for Americans to buy health coverage and give insurers leeway to drop some benefits.