TIRANA (Albania), July 12 (SeeNews) – Yura Corporation, a South Korean manufacturer of cables and wiring for the automotive industry, launched the construction of its first manufacturing plant in Albania's southwestern city of Fier, Albanian prime minister Edi Rama said on Friday.
Yura will invest 13 million euro ($14.6 million) in the project and hire up to around 1,000 employees, Rama said in Facebook post.
In February, economy minister Anila Denaj signed an agreement with Yura representatives to lease out to the company some 4.9 hectares of land near the city of Fier for one euro. Yura’s long-term plans envisage the opening of two other factories employing a total of 4,000 people, the ministry said in a press release at the time.
Yura operates in 12 countries, with 60 factories in the manufacturing of automotive electrical and electronic components including wiring harness and electronic control modules.
($ = 0.8877 euro)