The Czech cabinet has approved an investment deal with GE Aviation to build a CZK 9.5 billion factory to produce aeroplane engines in the Czech Republic. More than 500 jobs should be created at the plant near Prague, which is expected to begin production in 2022, Radio Praha writes.
GE Aviation – the aircraft engine wing of American multinational conglomerate General Electric – had announced plans to build a turboprop development, test and engine production in the Czech Republic at the start of the year.
However, it has taken until now reach agreement on the details with the Czech government.
Indeed, the Czech government repeatedly broke off talks with GE Aviation before the latter made a firmer pledge to actually going through with the investment, the Czech News Agency reported.