April 8 (SeeNews) - China-headquartered GreenTech Group will start the construction of an electric vehicles factory worth some 100 million euro ($112.3 million/743.4 million kuna) in Croatia, Croatian media reported.
The project in Nova Sela, some 500 kilometres south from Zagreb, on the border with Bosnia, will be developed in three phases during the following ten years, private news portal Slobodna Dalmacija reported on Saturday.
GreenTech Group's Croatian subsidiary based in the coastal town of Zadar will launch works on the first phase of the project estimated at some 4 million kuna which includes the construction of roads as well as electricity, water and communications infrastructure.
Works on the infrastructure will be completed by summer 2019. The production halls should be built in about a year and a half.
The future factory, which will manufacture electric vehicles as well as batteries for them, would employ some 20 workers at the beginning. Once the total investment is completed, the factory could employ up to 500 workers, Slobodna Dalmacija quoted a local government official as saying.
Last year, GreenTech Group bought 550,000 square metres of land from Kula Norinska municipality where Nova Sela is situated, for 16 million kuna.
GreenTech Group owns 3 factories spreading on a total of 1.6 million square metres, with total production capacity of 150,000 electric vehicles and 300,000 sets of battery packs, according to information published on the corporate website.
(1 euro = 7.43409 kuna)