Kvasiny, one of Skoda’s three production facilities in the Czech Republic is to undergo a major expansion- the biggest in its 81-year old history. Underlining the significance of the plant’s presence in the region, the Czech government has promised a two billion crown injection to support the transformation.
Furniture makers in the Czech Republic have reasons to be cheerful. According to figures just released by the Czech Statistics Office and quoted by the business daily E15, the industry saw a 13-percent increase in revenues last year – the healthiest growth it has experienced for a decade and a half.
The government’s special representative for Moravia-Silesia says there is a real threat that steelmaker Vítkovice Steel could close and operations could shift to Russia. The company has rebuffed the comments but there’s little doubt that the steelmaker has still to recover from the sector's downturn.
The opening of Prague’s controversial Blanka Tunnel complex was recently postponed indefinitely by Prague City Hall after it emerged that hundreds of kilometres of electric cables had been damaged by water and needed replacing. Originally, the tunnel, the longest such complex in Central Europe, was slated to open at the end of 2011. Had it opened on time, financial news website iHNed reported this week, it would have already translated into billions of savings.