February 15 (SeeNews) - German cable and harnessing manufacturer Leoni plans to launch in July or August works on a plant in Serbia worth over 60 million euro ($75 million), its fourth in the country, Belgrade-based media reported.
The plant, to be located in the central city of Kraljevo, will produce cables for Mercedes cars, news portal B92 reported on Wednesday.
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It will employ 4,000 to 5,000 people.
The construction works on the 45,000 sq m facility are planned to be completed by the beginning of 2020.
Last year, Leoni opened its third plant in Serbia, in the city of Nis. Currently, the company employs 1,000 people in Nis, but by the end of 2019 it plans to increase this number to 2,200.
Leoni, which operates factories also in the municipalities of Prokuplje and Doljevac, set up shop in Serbia in 2009.
($=0.8004 euro)