TOYOTA/PEUGEOT WILL BUILD PLANT IN CZECH REPUBLIC

Business | December 21, 2001, Friday // 00:00

The joint venture PSA Peugeot-Citroen and Toyota Motor Corp chose the Czech Republic to invest a total of EUR 1,5 BLN in building a greenfield car factory, Reuters reported, quoting a statement from the Czech State Investment Agency CzechInvest. The plant is to be built in the town of Kolin, 60 kilometers east of Prague; its annual production of small cars for the European market is set at 300,000. The Czech Republic’s major rival for winning the investment was Poland. At the beginning of December officials from the Bulgarian Economy Ministry announced that in case Peugeot-Citroen and Toyota decide to start production in Bulgaria, they will receive orders from the state administration, the police, social institutions, and the hospitals, which will be the companies’ major buyers. Bulgaria planned to introduce duty reliefs on the import of part for the automobiles.
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