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Friday, July 16, 1999 Published at 07:58 GMT 08:58 UK Business: The Company File New hope for Hyundai plant ![]() The Hyundai plant has been abandoned for a year The UK's biggest inward investment project, which was abandoned a year ago could be resurrected, it has been revealed. Hyundai's electronics plant at Dunfermline in Fife was mothballed last year along with hopes of at least 800 jobs. BBC Scotland understands Hyundai are in contact with suppliers about a resumption of work. The massive plant has not yet produced a single silicon chip after falling victim to the collapse of money markets in the Far East nearly two years ago.
The decision to halt development of the site sparked controversy over whether the British taxpayers would have to pay out large sums in attracting the investment without gaining a return. But enterprise agencies stressed the Korean company had received no money. There were hopes recently that development of the plant could restart later this year after Hyundai signed a £1.3bn buy-out deal with fellow South Korean conglomerate LG Semicon. Hyundai's apparent recovery appeared to boost the plant's chances but nothing concrete has as yet been confirmed. In the latest development, the Korean company is thought to have talked to several supply companies and organisations whose products and services would be crucial to kitting out and operating the plant. At this stage the contacts amount to checking out the state of readiness of the companies involved. Council pledge Local council leaders confirmed they had had no concrete signals yet but pledged that every effort would be made to get the factory up and running. Councillor Bill Brand said: "We will be ready to address any of the situations that may develop and we feel confident we could respond to the challenge if it comes about." An official announcement from Hyundai is not expected for several weeks. |
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