In a bid to convince the French car maker Renault to open a new production facility in Slovenia rather then elsewhere, the government has decided to initiate a procedure to grant French car maker Renault 10 percent of the investment value, which amounts to about EUR 37m. If Renault decides to manufacture its new model in Novo mesto-based Revoz, the government is willing to contribute state aid in the amount of ten percent of the investment, payable between 2005 and 2007, Economics Minister Tea Petrin said. Slovenia is one of the most serious candidates (along with Turkey and Slovakia) as a location for Renault's new assembly plant, which the car maker wants to launch in 2007. According to Petrin, the main advantage of Revoz is that it has been "one of the most successful and efficient facilities in the Renault corporation". The government is aware of the fact that Renault's investment could be very important for the economy, so the cabinet is willing to do everything in its power to bring the production facility to the country, Petrin stressed. The new plant would create 700 new jobs.