SARAJEVO (Bosnia and Herzegovina), February 17 (SeeNews) - Bosnian car parts manufacturer TMD Group will put the cornerstone of a 3 million marka (1.7 million/1.5 million euro) car parts plant in northern Gradacac on February 21, local media reported on Monday.
"This is only the beginning of the project which is planned for 2021 in Gradacac. The investment in the facility [...] is some 3 million marka, as it is too early to talk about the total investment amount," TMD Group's CEO, Adem Hanic told news portal Biznisinfo.ba.
"We still don't know the exact number of employees, but they will definitely not be less than a hundred," Hanic also said.
In 2018, TMD Group opened a 5 million euro plant in Gradacac, where it initially employed 71 workers.
It said back then that it plans to increase its exports to 200 million euro in 2021.
Gradacac-based TMD Group currently employs some 700 workers and exports its entire output to Germany, Austria, Slovenia, Italy, France, Serbia, Bulgaria.
Gradacac is a town in the Tuzla Canton of the Federation - one of Bosnia and Herzegovina's two entities. The other is the Serb Republic.
(1 euro = 1.95583 marka)