Changhong opens TV production plant in Czech Republic

Major road renovation project launched in Bulgaria in 2007

Hyundai to invest €1.3bn in Czech Republic by 2011

Samsung given tax incentives to expand plant in Slovakia

Bahrain Bay plans unveiled

Al Futtaim $950m Cairo project

Changhong opens TV production plant in Czech Republic

China 's Changhong Europe Electric has opened its plant to produce TV sets in Europe in Nymburk, central Bohemia. The plant will be a bridge between China and the Czech Republic, said Yorkson Wang, head of Changhong's foreign division.

The plant will employ 100 staff rising to 300 by the end of 2007, and the company expects the plant to produce 1m TV sets a year.

Five assembly lines will produce LCD, plasma and CRT sets on an area of 9,000sqm. The plant is the first Chinese greenfield investment in the Czech Republic ever.

Chinese ambassador Huo Yu-zhen said the new plant could become a role model for Chinese companies that seek to boost cooperation with Czech companies.

Changhong picked Nymburk owing to its good geographical position, accessibility and infrastructure. Czech builder Skanska built the plant between June and November this year.

Changhong plans to build more production halls to produce other types of consumer electronics in Nymburk.

Globally, the company had a turnover of $2.2bn in 2005 and employs more than 30,000 staff. It supplies its products to more than 100 countries.

Major road renovation project launched in Bulgaria in 2007

Almost 60% of Bulgarian roads are in need of repair and the Bulgarian government plans to repair over 1,500km of first class roads in 2007, along with the construction of an additional 18km.

The budget for the repair project will exceed €600m, with The European Investment Bank (EIB) providing €380m and the other funds coming from the state budget.

Hyundai to invest €1.3bn in Czech Republic by 2011

South Korean car maker Hyundai will invest €1.3bn in its plant in northern Moravia, which should be completed by 2011, according to Kim Do-tomas, head lawyer with Hyundai Motor Manufacturing Czech (HMMC).

Most of the sum will be spent on machinery and the rest on construction work. The construction of the plant is very demanding and the machinery so heavy that it cannot be moved to another country, so Hyundai has announced that it wants to stay in the Czech Republic permanently.

Hyundai Motor Company currently has production plants in China, India, and the USA. All cars sold in Europe are currently imported from Korea, which is lengthy, inflexible, and the supplies, often delayed, are burdened with import duties.

Last year, Hyundai sold more than 370,000 cars to the European market. It expects to sell more than 700,000 cars in 2010.

The plant in Nosovice, northern Moravia should launch production in early 2009 and Hyundai plans to produce 300,000 cars a year in Nosovice from 2011.

Samsung given tax incentives to expand plant in Slovakia

The Slovak government has cleared a €29.8m package of tax incentives to encourage South Korean company Samsung Electronics to expand its existing plant at Galanta, in the south of the country.

The plant is currently one of Samsung's largest in Europe, with around 3,150 employees, manufacturing LCD televisions, MP3 players and other electronic goods.

Samsung is mulling whether to invest around €232m in expanding its LCD production there. Slovak Economy Minister Lubomir Jahnatek said a final decision by Samsung on the expansion should be made in the first quarter of 2007, with the cabinet clearing further negotiations with the company.

Bahrain Bay plans unveiled

Plans for a $680m Bahrain Bay project, a joint venture between Arcapita Bank and a Bahrain investment group, have been unveiled. Final agreements have also been signed with Singapore's CapitaLand, which is investing $170m under its Raffles City brand, and energy company Dalkia, which is investing $40m. Business Bay is expected to be completed by 2011.

Al Futtaim $950m Cairo project

Dubai-based Al Futtaim Group has revealed plans for its $950m Cairo Festival City development. The mixed use project will include a residential component as well as commercial, hospitality and retail businesses. Officials say it will feature Egypt's first indoor-outdoor retail and entertainment complex. It will be located in New Cairo City, which is 22km to the east of Cairo.