The Chinese company Minth Automotive Europe commenced construction of a plant in Loznica in which it will produce aluminum car parts and where 300 workers will initially work, while 700 additional workers will be employed later.
This investment is worth EUR 100 million, and it will be realized in two phases.
President Aleksandar Vucic attended the ceremony marking the beginning of plant’s construction, and he said that the new Chinese investment in Serbia will be a milestone for Loznica, and will mean a lot for the entire Serbia as well.
He said that Loznica based plant would produce parts for big car companies, such as German Volkswagen.
“I hope Volkswagen will know how to appreciate the fact that more and more car parts manufacturers are doing business in Serbia, when they make a decision on where to build a new plant,” Vucic said, adding that he expects a lot more Chinese investments in Serbia.
Minth Group has production plants on over 30 locations in China, Thailand and Mexico, and it supplies main car producers, which have more than 80-percent stake in the global market. It exports parts in Australia, Europe, North America, Japan and Southeast Asia.
Source: N1, Beta