Volkswagen is to invest over 1 billion DM ($US469 million) in Slovakia over the next two years, according to Prime Minister Mikulas Dzurinda.

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He announced the deal after meeting with VW chairman Ferdinand Piech at the World Economic Forum in Davos, Switzerland on Sunday.


Dzurina said that VW Slovakia’s production of the all-terrain Colorado vehicle will create 2,500 jobs, with a further 1,000 posts at a new components facility near Malacky, expected to open in the summer.


The annual output from VW Slovakia is set to rise by 90,000 to 270,000 units.

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