May 7 (SeeNews) - The Slovenian government said it will approve a 6.5 million euro ($7.0 million) subsidy to support the 49 million euro project of local automotive supplier TPV for expanding its manufacturing capacities in the eastern town of Brezice.
At the same time, the government will include the project into its 2020-2023 development programme, it said in a statement earlier this week.
The investment in the TPV Brezina - Factory of the Future project includes the purchase of facilities with adjacent land in the Brezina business zone in Brezice, construction and redevelopment of industrial facilities, and the purchase of new machinery and equipment, among others, the government said.
Once the project is completed, the new facilities will enable large-scale production of chassis and body assemblies with the function to support and protect the batteries in expensive vehicles.
The investment was launched in December 2012 and is expected to be completed by the end of June 2022, the government said.
The project is expected to create 50 new jobs within three years after its completion, including 20 jobs for highly qualified professionals.
TPV has 5 factories in different locations in Slovenia and one in Serbia's Kragujevac, employing more than 1,200 people.
($=0.926627 euro)