(BRUSSELS) - The European Commission gave the greenlight on Wednesday to Slovak authorities plans to grant aid to Korean electronics group Samsung to build an assembly plant in western Slovakia.

The 65 million euros (103 million dollars) in direct grants and tax breaks is to help build a liquid crystal display monitors plant in the town of Voderady in a poor region of Slovakia that suffers from high unemployment.

"The Samsung project will create new jobs in Voderady and western Slovakia region and contribute to its economic development," EU Competition Commissioner Neelie Kroes said.

"It will also increase Slovak and European competitiveness in the rapidly expanding consumer electronics sector which until recently was located mainly in South East Asia," she added.

Construction on the plant began last year and its completion is due at the end of 2011.

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