Turkey's Taypa to open 1,000 jobs in first phase of Serbian project

The total workforce of the factory will reach 2,500 when it reaches its full capacity, Terzic said, as quoted in a statement by the Kraljevo city government on Thursday.

Taypa plans to build its factory in the area of the obsolete plant of insolvent Autotransport, the director of the public company for the regulation of construction land in Kraljevo, Aleksandar Nestorovic said.

"The investor will not destroy everything, it will reconstruct the existing facilities. We have a good steel structure, analyses and assessments will be made. I had the opportunity to see a visually projected modern factory," Nestorovic noted.

Moreover, Taypa 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, he added.

On Tuesday, Serbia's government said Turkish textile group Taypa plans to invest 35 million euro ($41.2 million) in the construction of the factory.