Hyundai tells Chancellor Scots fab will go ahead

Hyundai tells Chancellor Scots fab will go ahead
Roy Rubenstein Chancellor Gordon Brown has won assurances from the President of Hyundai, Kim Young-Sam, that the firm’s threatened Scottish semiconductor fabrication plant will go ahead without getting a firm date for its opening. Despite the optimism of senior figures in the Scottish Office and Locate in Scotland that the plant should open in the middle of next year – six months earlier than expected – the company would not be pinned down on a date. Brown – whose Dunfermline East Constituency borders the Halbeath site – spoke to Mr Young-Sam in the South Korean capital Seoul on Far East tour to discuss the effect on the West of the Asian financial crisis. He was pleased at the pledge that the ?2.4bn project in Fife would go ahead if concerned at the lack of a date for it to open with its promised 1,800 jobs. Although he accepts that Hyundai are seeking partners for the delayed project, Brown said: “I am encouraged that they say this investment is one of the priorities for the future. “They are determined to go ahead with investment in the United Kingdom – in this case in fact it happens to be an investment in Scotland.” But, the Chancellor’s aides said that senior Hyundai executives had stressed: “We want to go ahead with this, but it may not happen tomorrow.” But despite this caution, there is a strong feeling among officials in Scotland that if current talks to find a partner can be concluded quickly, an early start to take advantage of a predicted upturn in the semiconductor market is a strong possibility.#


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