January 10 (SeeNews) - Austrian truck equipment manufacturer Palfinger plans to build a factory in Nis, in eastern Serbia, where it will employ 375 workers, according to local media reports.
The value of the investment is 35 million euro ($37.6 million), news portal Juzne vesti reported on Monday.
The factory will span 7 hectares, according to the report.
Palfinger will receive 4.6 million euro in government subsidies for the project, which will be paid in five tranches from 2023 to 2027, Nova Ekonomija reported.
Palfinger is headquartered in Salzburg and has production and assembly sites in Europe, the Americas and Asia. The company, with a staff of 12,500, generated total sales of 1.84 billion euro in 2021.
($ = 0.9310 euro)