Skoda Auto, Mlada Bolesav Announce Joint Investment In Security

Mlada Boleslav, Central Bohemia, July 30 (CTK) – The first joint investments of the town of Mlada Boleslav and Skoda Auto car manufacturer aimed at making the Mlada Boleslav district more attractive will be heading to security, Skoda Auto said in a press release today.


Skoda Auto has approved a financial aid to projects worth nearly EUR700,000 (about Kc17.8m). It wants to create an endowment fund to which it is going to pay up to Kc750m within the next three years.


The Central Bohemia Region and the government also want to invest in the district.


At a press conference in Mlada Boleslav in April, Prime Minister Andrej Babis said the government plans to support the district where one of the most important Czech companies (Skoda Auto) has been operating, but he would not specify the amount of money that might be put in the local projects.


Apart from transport projects, Skoda Auto’s funding will target the social sphere, health care, leisure time activities, public spaces, housing, and education.


Skoda Auto has invested nearly EUR2bn (some Kc50.7bn) in its Mlada Boleslav factory since 2012.


Mlada Boleslav has a population of some 44,000 people. Its budget is nearly Kc1.3bn this year.