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BELGRADE (Serbia), November 22 (SeeNews) - Japanese automotive components maker Yazaki plans to invest 25.1 million euro ($26.7 million) in the construction of a plant for truck cable sets in Sabac, in northern Serbia, the Serbian economy ministry said.
Yazaki plans to hire 1,700 employees during the first stage of the investment project, the economy ministry said in a statement on Tuesday, a day after representatives of the Japanese company and government officials signed a deal on the project.
In a separate statement issued on Monday, the Sabac local government said it has signed an agreement to provide incentives for the construction of the plant.
The plant will manufacture truck cable sets for Daimler.
Yazaki operates factories in 44 countries, with some 280,000 employees.
In July, it launched the construction of a 50 million euro car parts plant in Bulgaria, its third in the country. Elsewhere in Southeast Europe, Yazaki also operates plants in Romania and Croatia.
($ = 0.9391)