German company started to build a factory in Pancevo

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Photo: Pixabay

The German company ZF Friedrichshafen started today in Pancevo the construction of a factory for the production of power systems for electric vehicles, in which EUR 160 million will be invested and in which up to 1,000 workers are planned to work.

The Town of Pancevo has provided the German investor, free of charge, with the construction site in the North Business Zone. The first phase of the investment lasts until 2021 and it includes the construction of a facility covering the area of 25,000 square meters on 10.8 hectares of land and the opening of 540 job vacancies. In the second phase, from 2022, the site would be expanded and another building of 25,000 square meters would be built.

The ZF company employs more than 140,000 people at 230 locations in 40 countries, and last year it had revenues of EUR 36.4 billion. As it is stated, this is one of the highest investments in Serbia that will mean much to this least developed part of Vojvodina, but also the whole country.

Source: Beta

Photo: Pixabay