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Slovak got approve EUR 121 mln in subsidy, Samsung included

BRATISLAVA, Oct 10 (Reuters) - The Slovak governmentapproved on Wednesday 121.2 million euros ($156.30 million) instate aid for 10 investors, including 19.8 million euros for theSouth Korean Samsung Electronics .

Samsung, the world's biggest maker of televisions, operatestwo assembly plants in the euro zone country and plans tomodernise its Slovak TVs production and preserve 760 existingjobs.

It had originally sought 28 million euros, but the previouscentre-right government snubbed this call this spring.

Samsung, shifting its focus towards new generation OLEDdisplay technology, wants to invest 70 million euros at its sitein southern Slovak town of Galanta also into a planned launch ofnew 3D, Smart and OLED televisions.

The state subsidy for Samsung will be in the form oftax-reliefs stretching over the 2013-2015 period.

The company is among the central European country's topexporters and its output is vital part for the growth as foreigndemand, expected to slow in the coming quarters and next yearsuffering from the bloc's protracting debt crisis.

The 1o businesses combined are expected to invest more than388 million euros, create some 2,400 new jobs and preservearound 1,500 already existing work-places.

Among companies set to receive state aid are Slovak unitsGermany's car-parts maker of Continental and othersuppliers such as Magneti Marelli or Bekaert.($1 = 0.7754 euros)

(Reporting by Martin Santa. Editing by Jeremy Gaunt.)

((martin.santa@thomsonreuters.com)(+421 2 5341 8402)(ReutersMessaging: martin.santa.reuters.com@reuters.net))

Keywords: SLOVAKIA INCENTIVES/