Michelin to invest EUR 500 million in tyre factory

Today the French will sign an agreement with the city for the lease of land. "This contract is just the beginning of an investment process," said Michelin's Polska spokeswoman Ewa Czarnecka, "But I can confirm that Michelin will invest in Olsztyn. Construction works will begin as soon as possible." On an 80 hectares plot Michelin wants to build a logistic and warehouse center and expand the manufacturing facility. The total value of the investment will amount to EUR 500 million and it will create around 500 new jobs. The city of Olsztyn will earn almost zł.1 million a year on the lease of land. Dorota Groszkowska, the president of Warmińsko-Mazurska Special Economic Zone in Olsztyn envisages that the investment will mean that the unemployment rate in the region will fall to less than 10%. (Gazeta Wyborcza, pp.1, 28) E.B.