Taiwanese LCD (Liquid Crystal Display) panel manufacturer AUO signed a letter of intent on December 2 for the establishment of an LCM (LCD Module) plant in Slovakia, Economic Daily News of Taiwan reported. AUO said that starting in 2010 the company will invest more than 191 million Euros (US$289.39 million; US$1=0.66 Euro) in starting LCM manufacturing, assembling, and sales operations in the Slovakian city of Trencin. The Trencin plant, to be AUO's second manufacturing base in Europe after the one in the Czech Republic, is projected to cover an area of 200,000 square meters. Commencement of production at the Trencin plant is slated for the first quarter of 2011. The Slovakian reportedly plans to reinforce AUO's investment project with 38.3 million Euros (US$58.03 million) in the forms of direct stimulus and tax relief.