March 12 (SeeNews) - Turkish group Maydenim Tekstil is expected to open a textile factory in Mali Zvornik, in western Serbia, by June, the town mayor has said.
The company plans to start the installation of machines at the factory in April and to begin hiring employees in May, Zoran Jevtic said in a press release issued by Mali Zvornik local government.
YGS Tekstil, a subsidiary of Maydenim Tekstil, intends to hire 300 employees during the first year of the operation of the factory and to recruit a further 200 by the end of 2020, the Serbian government said in May 2018.
The municipality of Mali Zvornik invested 75 million dinars ($716,650/635,700 euro) in the reconstruction of the former factory of the liquidated company Gucevo, where the production site of YGS Tekstil will be located, the Serbian government said last year.
(1 euro = 117.983 dinars)