You have 10 free articles left this month. Get your freeBasic subscription now and gain instant access to more.

China's Minth to build 100 mln euro car parts factory in Serbia

Author Radomir Ralev
China's Minth to build 100 mln euro car parts factory in Serbia Serbian president Aleksandar Vucic during a meeting with representatives of Mint; Source: Serbian President's Office

BELGRADE (Serbia), October 5 (SeeNews) - Chinese car parts manufacturer Minth plans to invest 100 million euro ($115 million) in the construction of a car parts factory in Loznica, in western Serbia, the Serbian president's office said.

The Chinese company intends to open 1,000 jobs at the factory and is also interested in greenfield investments in Serbia's hotel sector, the Serbian president's office said in a statement on Thursday after president Alexandar Vucic met with representatives of Minth. 

Minth has signed a framework agreement on the project with the Loznica city government and Serbia's economy ministry, the city government said in a press release on Friday.

"This is a historic event for Loznica, the arrival of such a company with a programme that will be realised with us is more than good news. It is a powerful car industry company with the ability to expand its business, and which intends to include local firms as subcontractors," the mayor of Loznica, Vidoje Petrovic, said in the press release.

Minth is active in the design, production and sale of both structural and decorative car parts.

($ = 0.869776 euro)