SEOUL, July 27 South Korea's Hyundai Mobis Co
Ltd on Sunday said it will build a 95.65 million
euro ($129 million) factory in the Czech Republic to make car
lamps for the local operations of compatriots Hyundai Motor Co
and Kia Motors Corp.
Hyundai Mobis said it will sign an agreement on Tuesday with
the Czech government to build its second plant in the country by
2017 near the city of Ostrava.
The factory will have the capacity to make head- and rear
lamps for 750,000 vehicles a year made primarily at Hyundai's
local plant and Kia's plant in neighbouring Slovakia.
With the agreement, Hyundai Mobis would become the latest
Korean auto parts supplier to invest in the central European
country, which is recovering from a record-long 18-month
recession that ended last year.
Nexen Tire Corp last month said it planned to
build a $1.18 billion tyre production facility in the Czech
Republic from 2016 to 2023.
($1 = 0.7435 Euros)
(Reporting by Hyunjoo Jin; Editing by Christopher Cushing)