Jiangsu Lianbo to open factory in Novi Sad on April 25 - city

The factory in the Kac suburban settlement of Serbia's second largest city is the Chinese company's first manufacturing site in Europe, the Novi Sad city administration said in a statement, adding that Jiangsu Lianbo Precision Technology has been producing metal parts for all kinds of motors used in the automotive industry since 2011.

Serbian state news agency Tanjug reported on Wednesday that the total investment in the Serbian project is estimated at over 80 million euro ($85.4 million). The Kac factory spreads on an area of 14,000 square metres and will employ up to 500 people, Tanjug said.

($ = 0.937 euro)