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Serbia approves 870 mln euro plant investment by China's Minth

Jul 8, 2024, 6:32:32 PMArticle by Valentina Bajic
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July 8 (SeeNews) - The Serbian government said it has approved an agreement with Minth Holdings Limited that will see the Chinese car parts maker establish a new production facility in the northern town of Indija and invest 870 million euro ($943 million) over a period of ten years.

Serbia approves 870 mln euro plant investment by China's Minth
Groundbreaking ceremony for Minth factory in Loznica; Source: Serbian President's Office

The initiative includes setting up plants for automotive, electric vehicles, bicycles, photovoltaic parts, and construction materials, as well as developing a supplier chain, the government said in a statement last week.

The project will create a total of 2,220 new jobs, according to the statement.

Minth already operates car part plants in Loznica and Sabac, in western Serbia. It is building another one in Sabac to manufacture parts for electric vehicles.

During the session, the government also allocated 4 billion dinars ($37 million/34 million euro) for incentive measures in 2024, including grants and support programmes aimed at stimulating economic growth, fostering entrepreneurship, and supporting various sectors such as processing industries, women entrepreneurs, start-ups, and dual education.

(1 euro = $1.08)

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