Japan's Nidec officials visit Serbia to consider factory construction

Nidec Corporation has included Novi Sad in a list of potential locations for the construction of a factory in Europe and a delegation led by the president of the company, Jun Seki, visited the Sever 4 area of the city's industrial zone to study the site, the Novi Sad city government said in a press release on Wednesday.

Novi Sad would provide all needed logistics for the construction of the factory, as the project will have a great importance for the city and for Serbia, Novi Sad mayor, Milos Vucevic, said during a meeting with Seki.

"In addition to the immediate financial benefits for the state and the opening of jobs, the arrival of a company of that reputation is an exceptional advertisement for our country," Vucevic said.

The Japanese company plans to invest between 500 million euro ($593 million) and 1 billion euro in the construction of the factory but has not made a final decision on its location yet, Vucevic said last week.

Nidec Corporation, listed on the Tokyo Stock Exchange, is a manufacturer of electric motors used in hard-disk drives, electric appliances, automobiles and commercial and manufacturing equipment.

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