April 7 (SeeNews) - Turkish car parts manufacturer Teklas opened a new plant in the southern Serbian town of Vladicin Han as part of plans to invest 11.35 million euro ($12.9 million) in the country, the government in Belgrade said on Thursday.
The Turkish company received a state subsidy of 4.7 million euro for the project, the government said in a statement.
The plant for fluid circulation systems will initially create 400 jobs, as their number is expected to reach 1,200 later on, the statement quoted prime minister Aleksandar Vucic as saying during the official opening ceremony.
The plant is expected to generate a profit of 20 million euro, Vucic also said, without specifying the period to which his projections refer.
The new plant will manufacture parts for Mercedes, BMW, Audi, Skoda and Voklswagen.
Last week the Chinese company Mei Ta launched the construction of a car parts factory near the Serbian capital Belgrade, which is due to be completed by July 2017. The factory, which is located in the town of Baric, will span 40,295 square metres and will manufacture engine mounts, turbochargers and others parts for Renault, Ford, BMW and DaimlerChrysler.
($=0.8815 euro)