China’s United Alloy-Tech Europe to invest 300 mln euro in Serbia – local govt
, NewsChinese car part manufacturer United Alloy-Tech Europe (UATE) will invest 300 million euro ($320.3 million) in expanding its Serbian production footprint in the western city of Sabac by building a factory, its fourth in the city, the city mayor said.
The construction of a fourth factory is planned to start by the end of the year, Sabac mayor Aleksandar Pajic said last week, as quoted in a statement by the city authorities. The new factory will employ 1,500 workers, he added.
The construction of the company’s third factory in the city, where it will employ 1,000 staff, is already underway, he added. The factory spans 84,000 square metres.
UATE began building its second facility in Sabac in March last year, an investment worth 50 million euro, according to local media reports. Approached by SeeNews for further information on UATE’s investments in Sabac, a local authority official declined to comment. An email to the mayor’s office went unanswered by the time this article was published.
Chinese-headquartered United Alloy-Tech Europe, part of MINTH Group, manufactures structural body parts, trims and decorative parts of passenger vehicles. It has more than 16,000 employees in 43 production facilities in Europe, Asia and South America.
Source: See News
Sign up for business updates & specials.
LATEST NEWS
- May 11, 2023 Mining Industry, Science and Communications, bridging the gaps
- May 11, 2023 Communicating Energy, new tech industries communications
- May 9, 2023 Serbia economy briefing: Transformation of “Elektroprivreda Srbija”
- April 24, 2023 Without sustainable mining, there is no renewable future
- March 25, 2023 Europe revives mining to reduce dependence on the import of key raw materials, the advantages of Serbia as materials supplier
- March 8, 2023 Calcium Carbonate Industry, Reshaping the Market Growth, Serbian supplier to match European industrial demand
- February 28, 2023 Serbian exploitation miner Belkalhan could become EU primary supplier of Graphite critical raw material
- February 28, 2023 Calcite/calcium carbonate premium quality supplier from Serbia opening supply contracts for 24,25, pharmaceutical/chemical/food processing industry opportunity for JV
- February 16, 2023 Serbian Belkalhan calcite & graphite mining developer invites JV partners for joint critical raw materials exploitation
- February 15, 2023 Petroprocess to modernize EPS power plant CEMS system with state of the art equipment
- June 8, 2023 Serbia, The credit activity of banks towards the non-monetary sector continued to slow down
- June 8, 2023 The Government of Serbia has defined a quota in the market premium system for solar power plants
- June 8, 2023 Serbia, Chinese Zijin Copper is expanding: it owns a five percent stake in Belt and Road Institute
