BELGRADE (Serbia), November 11 (SeeNews) – Chinese company Mei Ta has received a bank guarantee for the purchase of a land plot in Obrenovac municipality next to the site of a car parts factory which it started building earlier this year, the local government reported on Friday.
The planned addition of the new 17-ha plot will double the area of the factory in which Mei Ta plans to invest a total of 60 million euro ($62.25 million), Belgrade mayor Sinisa Mali said in a statement.
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The company started the construction of the factory in April 2016 and plans to complete the first phase in March or April, employing 770.
Mei Ta will hire 700 workers throughout the second stage of the factory's development, Mali added.
The factory, which is located in the town of Baric, will manufacture car parts for global car makers such as Renault, Ford, BMW and Audi.
Serbian state-owned utility Elektroprivreda Srbije (EPS) has already built a power substation with enough capacity to ensure the smooth production process at the factory, Mali said.
Mei Ta produces automotive parts, engine parts and general industrial parts. The company operates several facilities in France, Slovakia, China and India.