The state has approved a subvention of 21.3 million euros to the German company Brose, which has already received as a gift a land worth 1.5 million euros in Serbia, for the establishment of a production facility and a research center in Pancevo.
Funds totaling 21,330,000 euros will be disbursed in eight annual tranches, according to a contract between the company and the Ministry of Economy, which was announced on December 6.
The first tranche in 2020 will be around 311,000 euros, the next will amount to almost 1.3 million, while the largest single payment will be in 2022 – 9.85 million euros. In the coming years, tranches will amount to 2.26 million, 3.18 million, 2.34 million, 1.1 million and in 2027 976,000 euros.
Brose will be required to hire at least 1,100 part-time workers by 2026, with a total estimated investment cost of 180,300,000 euros for the project applied for.
This company has already received free land for the same investment project, which New Economy wrote about in November.
Brose d.o.o. is the subsidiary of German Brose International. The company produces mechatronic systems for car doors and seats, as well as electric motors, drives and electronics for engine control, braking, transmission and cooling.
