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Home/Market News & Opportunities/Market News & Opportunities/Benetton invests EUR 43.2 million in Nis-based plant

Benetton invests EUR 43.2 million in Nis-based plant

The Italian company Benetton is going to open a plant worth 43.2 million euros in Nis and give a job to 2,700 people within next four years, the Ministry of Economy and Regional Development announced today.

An agreement on opening of the plant will be signed in Nis between Serbian Deputy Prime Minister Mladjan Dinkic, representatives of Benetton and the city of Nis on Monday, January 31.

– The investment will amount to 43.2 million euros and the state will support this project with a subvention in amount of EUR 9,000 for each newly employed worker – the Ministry of Economy and Regional Development announced.

Benetton plans to start the production in the facilities of Niteks plant in Nis and bring its own suppliers to Nis.

– In that way, Niteks will again become the leading textile center in Serbia. A cooperation with local companies that can meet the standards of Benetton is in the pipeline as well – reads the statement.

Nis Mayor Milos Simonovic told Beta agency earlier that one of the city’s obligations in the business with Benetton was to expand the duty free zone in the location of Niteks.

– That is a request filed by all foreign investors because they are mostly export-oriented investors – said Simonovic.

Benetton is a family company founded in 1965 and it is now one of the largest companies in the field of fashion textile industry.