October 23 (SeeNews) - Turkish textile group Taypa plans to launch production in Serbia in April 2019, the president of the company, Mesut Toprak, said.
"Serbia will occupy an important place among textile and clothing manufacturers. The goal is that our exports reach 90 million euro ($103.3 million)," Toprak said, as quoted in a statement by the Serbian President's Office on Sunday.
Taypa plans to invest 35 million euro in the construction of a factory in Kraljevo, in central Serbia, and intends to have a total of 2,500 employees at the plant when it completes its development, Serbian president Aleksandar Vucic said during a meeting with the management of the Turkish firm.
Serbia's economy ministry signed in October 2017 a memorandum of understanding with Taypa for the construction of a factory in Kraljevo.
Taypa also plans to build a secondary textile school in order to enter the Serbian education system and have direct access to trained staff at the end of the investment, the director of the public company for the regulation of construction land in Kraljevo, Aleksandar Nestorovic said in October 2017.
($ = 0.8711 euro)