Japanese Yaskawa to build robot factory in Slovenia: PM

October 20, 2016 10:41 AM EDT

Slovenia's Prime Minister Miro Cerar arrives at a European Union leaders summit in Brussels, March 19, 2015. REUTERS/Eric Vidal

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LJUBLJANA (Reuters) - Japanese electrical equipment producer Yaskawa Electric [6506.T] will build a robot factory in Slovenia, Prime Minister Miro Cerar told reporters in Brussels on Thursday.

State news agency STA reported that the investment was likely to be around 25 million euros ($27.3 million) and that Yaskawa chose Slovenia over Slovakia, the Czech Republic and Poland, which were also being considered as possible locations for its new factory.

Yaskawa specializes in robotics and motion control technologies. It already owns a small factory in Slovenia which produces robotic cells.

Cerar was attending a European Union summit of heads of government in Brussels. His government is trying to increase foreign direct investment to give a boost to the economy which narrowly avoided an international bailout for its banks in 2013.

Last year foreign direct investment rose to 1.36 billion euros versus 1.3 billion in 2014, while total accumulated FDI rose by 13.4 percent to 11.6 billion euros.

Consumer electronics producer Panasonic [6752.T] is another Japanese company which might increase its investment in Slovenia.

Last month it completed due diligence on Slovenian household appliances maker Gorenje and is next month expected to reveal whether it will raise its stake in Gorenje from 10.74 percent at present and possibly take over the firm.

($1 = 0.9152 euros)

(Reporting By Marja Novak; Editing by Keith Weir)

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