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Slovak got approve EUR 121 mln in subsidy, Samsung included

BRATISLAVA, Oct 10 (Reuters) - The Slovak government approved on Wednesday 121.2 million euros ($156.30 million) in state aid for 10 investors, including 19.8 million euros for the South Korean Samsung Electronics .

Samsung, the world's biggest maker of televisions, operates two assembly plants in the euro zone country and plans to modernise its Slovak TVs production and preserve 760 existing jobs.

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

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

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

The company is among the central European country's top exporters and its output is vital part for the growth as foreign demand, expected to slow in the coming quarters and next year suffering from the bloc's protracting debt crisis.

The 1o businesses combined are expected to invest more than 388 million euros, create some 2,400 new jobs and preserve around 1,500 already existing work-places.

Among companies set to receive state aid are Slovak units Germany's car-parts maker of Continental and other suppliers 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)(Reuters Messaging: martin.santa.reuters.com@reuters.net))

Keywords: SLOVAKIA INCENTIVES/