September 30 (SeeNews) - Bosnia-based Bosancar, a manufacturer of cabins, bodyworks and metal components for industrial, off road, rail and agricultural machines, started the construction of a 5 million euro ($4.9 million) railcar production plant in the city of Prijedor, the city said.
The 6,400 sq m factory, which will initially employ 50 people, is expected to be completed in 60 days, the city said in a statement on Thursday.
The city of Prijedor is investing 418,000 marka ($210,400/213,700 euro) in the construction of the adjacent infrastructure.
The new plant is expected to employ 300 people within up to five years, according to an earlier statement by the city.
Bosancar is owned by Italian investor Giuseppe Franchi. The company owns a 17,000 sq m factory in Bosanska Krupa.
(1 euro = 1.95583 marka)