February 20, 2016 / 12:15 PM / 3 years ago

RKN Global to build 89 million euro plant in Slovakia, employ 1,200

BRATISLAVA (Reuters) - RKN Global said on Saturday it would invest 89 million euros (68.8 million pounds) in Slovakia, creating over 1,200 jobs in a new plant making secure IDs and e-cards and screening technologies.

RKN Global, based in Dubai, manufactures a range of security and screening products.

The deal signed by Slovak Prime Minister Robert Fico and RKN Global managing director Marjam Lindsbro on Saturday will provide new jobs in a region where unemployment is nearly 15 percent, above the national average of 10.6 percent.

Fico’s leftist Smer party is well ahead in the polls before a March 5 election and has been keen to show it can cut the jobless rate below 10 percent.

The government, which has sought to add higher value-added investors to go along with the car and electronics plants that fuel Slovakia’s economy, will approve cash and tax incentives of up to 18 million euros at its March 2 session, Fico said.

($1 = 0.8986 euros)

Reporting by Tatiana Jancarikova, editing by Ed Osmond

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