Hyundai management approves Nosivice investment

The top management of South Korean automobile manufacturer, Hyundai, has officially approved the company's investment in a new manufacturing plant in Nosovice, Moravia, in the Czech Republic. The company has agreed to invest an initial 743 million euros - with that amount going up to roughly 1 billion eventually. The numbers cited by the company's top executives mirror estimates by the state agency CzechInvest. Hyundai's plant in Moravia is expected to be operational by 2008.