The European Commission recently approved financial assistance valued at 65 million Euros (US$102.7 million; US$1=0.63 Euro) for Samsung to build a new LCD (Liquid Crystal Display) plant in Voderady, Slovakia, Reuters reported, adding that the plant will produce LCD modules for use in LCD TVs. The high-tech project, with a total investment of nearly 300 million Euros (US$473.8 million), aims to boost the economic development in Voderady and Western Slovakia by creating around 1,200 direct jobs and 3,700 indirect jobs.

One week earlier, the European Commission also authorized a state aid of around 48.3 million Euros (US$76.3 million) that the Polish authorities earmarked for Sharp, so as to help the Japanese company set up a new LCD plant in Poland, also according to Reuters. The project, with a total investment of 163.4 million Euros (US$258.0 million), is expected to enliven economic development in the Kujawsko-Pomorskie region by creating around 3,000 direct jobs.