The International Finance Corporation (IFC) is exploring the possibility of approving a loan to support Minth Group Limited’s expansion in Serbia and Poland, focusing on manufacturing cases for electric car batteries. The total investment for this project is EUR 598 million, with operational commencement anticipated by 2025.
In Serbia, Minth plans to expand its existing facilities at Minth Automotive Europe DOO (MAE) in Loznica and establish three new production lines in Šabac. Both facilities will be part of Minth’s subsidiary complexes. For Poland, the expansion will occur at Minth’s current plant in Sprotavia, located within the industrial zone.
Minth Group, a leading global auto parts manufacturer, operates over 70 production facilities across several countries including China, the Czech Republic, France, Germany, Mexico, Poland, Serbia, Thailand, the United Kingdom and the USA. The IFC financing will specifically target the operations of MAE Serbia and Minth Poland and will not extend to other Minth Group operations.
Notably, in March 2022, Minth celebrated the opening of its factory in Loznica and the foundation stone laying for the Šabac plant, announcing an investment exceeding 500 million euros and the creation of nearly 3,000 jobs upon completion of all production lines. Additionally, the state approved a 23.5 million euro subsidy in March 2023 for the second phase of production expansion.
In October 2022, Minth also submitted an environmental impact assessment study for its planned automotive production complex in Šabac, aiming to produce 760,000 units annually of aluminum housings and battery housing parts for electric cars.
