§ Lord Mackay of Ardbrecknish
asked Her Majesty's Government:
How much public money has been spent on the Hyundai project at Dunfermline, and when they envisage the factory will start production. [HL269]
§ Lord Sewel:
No payments of Regional Selective Assistance or of financial assistance from Scottish Enterprise have yet been made to Hyundai. Expenditure by the Scottish Enterprise Network on acquiring, levelling and servicing the Hyundai site totals £13.8 million.
Construction of the new plant is expected to be completed by the end of May. Hyundai has indicated that there may be a delay of up to 12 months in equipping and commissioning the new facility, pending recovery in the financial markets in Korea.