Hyundai Mobis has come to an agreement with the city of Ostrava over the purchase of a plot that the South Korean automotive supplier needs for its new manufacturing plant in the Mošnov industrial zone. The manufacturer will pay Ostrava CZK 69m for the land, and the Czech state will then pay the money back to Hyundai Mobis as a special incentive. The purchase contract is expected to be signed in a few days, according to Ostrava Mayor Tomáš Macura. Hyundai Mobis will pay Ostrava in three payments: 10 percent is to be paid before the end of this year, an additional 40 percent in 2016 and the rest in 2017. Hyundai Mobis plans to invest a total of CZK 4bn into its Mošnov plant and employ 900 people.
