March 23 (SeeNews) - Serbia's government said on Thursday that French specialty chemicals group Hutchinson plans to invest a total of 7.3 million euro ($7.9 million) in the development of its production plant in Ruma, in northern Serbia.
Serbia will support the development plans of the company by providing 900,000 euro in funding for the construction of a water purification plant, the government said in a statement.
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Hutchinson opened on Thursday a new production unit at the plant in Ruma, active in the output of rubber hoses for automotive cooling systems, in the presence of Serbian prime minister Aleksandar Vucic.
The factory currently has 447 employees and their number will hopefully reach 1,000 by the end of next year, Vucic said in the statement.
Hutchinson opened the factory in 2016 and currently supplies its products to companies such as Mercedes, Fiat, Suzuki and Renault. Ruma municipality provided Hutchinson with a land plot of 7.8 hectares for the construction of the plant.
($ = 0.927451 euro)