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German company mulling 'large investment' in Serbia's Pancevo - president Vucic

Author Radomir Ralev
German company mulling 'large investment' in Serbia's Pancevo - president Vucic Aleksandar Vucic; Source: Serbian President's Office

BELGRADE (Serbia), August 1 (SeeNews) – A large company based in the German federal state of Bavaria is considering opening a factory in Pancevo, Serbian president Aleksandar Vucic said on Thursday.

"I am waiting for confirmation from the company, it is big and strong, with a large investment, but I cannot give the name. It is from Bavaria," Vucic said in a video file posted on the YouTube channel of privately held TV channel Pink.

Last week, Vucic said that Germany's ZF Friedrichshafen, or ZF Group, which has a production plant in Pancevo, has attracted an unnamed new large investor to the city in northern Serbia.

"In addition to ZF Group, there will be another great, fantastic factory. Soon we will sign a contract, and I believe that works will start before March 2020," Vucic said back then.

ZF Group opened in June a 160 million euro ($176.6 million) factory for electric vehicle (EV) parts in Pancevo. The factory currently employs 300 people, with that number to rise to 1,000 after the completion of all stages of the project's development. The company plans to produce electric shafts for premium original equipment manufacturers, e-mobility electric motors, electronic and mechatronic gearboxes, microswitches and printed circuit boards in the initial stage of its operation in Pancevo.

($ = 0.905804 euro)