Czech government and Hyundai to sign deal on new plant in Mošnov

The Czech government is to sign a deal with the South Korean company Hyundai Mobis on the construction of a four billion crown plant for the production of car headlights in Mošnov, north Moravia. The construction of the plant should start in summer 2015, and be finished in nine to ten months. It is expected to create around 1,000 new jobs in an area where unemployment is traditionally high. Hyundai, which has promised to invest into the local infrastructure, will be eligible to corporate income tax relief for ten consecutive years.