The Slovenian government has recently approved a development program that includes the expansion of production capacities at the Kovis company in Brežice. This project aims to support the growth of production, as well as the automation and optimization of manufacturing processes, with the Ministry of Economic Affairs granting a subsidy of 4.07 million euros.
According to the Ministry of Economic Affairs, Tourism, and Sports, 60% of the company’s investment will be carried out in the Brežice Municipality, with the remaining 40% in the Štore Municipality. The investment will focus on acquiring new equipment and machinery at locations in Štore and Brezina, with a total value of 13.58 million euros excluding VAT, of which 13.36 million euros will be allocated for machinery and equipment.
As part of this investment, Kovis, a company specializing in the production of components for railway vehicles, is expected to create and fill 26 new job positions within three years of completing the investment, including seven highly skilled positions. The investment is scheduled to commence on July 15, 2023, and conclude on June 5, 2026.
The Ministry will provide support for the investment amounting to 2.58 million euros this year, 541,800 euros next year, and 951,000 euros in 2026, totaling 30% of the eligible investment costs, as stated by officials.
Kovis submitted an application for investment incentives to the Ministry of Economic Affairs, Tourism, and Sports based on the Investment Promotion Act. They believe that this investment will not only contribute to job creation but also lead to energy savings and reduced emissions.
This development signifies a significant step towards enhancing the manufacturing capabilities of Kovis, ultimately benefiting the local economy and fostering innovation within the industry.
Source: STA