Serbia, The Ministry of Economy supported five projects of the automotive industry and electrical equipment

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In December, the Ministry of Economy supported new investments in the automotive industry and the production of electrical equipment. These are five multi-year investment projects with renowned companies and world-renowned manufacturers of parts and equipment that will bring high technology and production processes and employ over 420 people.
As stated on the website of the ministry, the companies in question are Muehlbauer Automation, Nidec Electric Motor Serbia, Nidec Elesys Europe, Schiebel Components and Knauf Insulation.
By the end of 2025, Muehlbauer Automation plans to invest EUR 29.5 million in the construction of a new factory for the production of machines for the production of batteries and fuel cells in Stara Pazova and employ 150 new workers.
Nidec Electric Motor Serbia will invest EUR 93 million in Novi Sad by the end of 2026, and employ 116 new workers by the end of 2024. The investment refers to equipping a plant for the production of electronic equipment for motor vehicles. The main markets of the NIDEC EUROPE BV group, within which it operates, are the countries of Europe and Asia.
The company Nidec Elesys Europe is implementing an investment related to equipping a plant for the production of electrical and electronic parts for motor vehicles, the implementation of which will employ at least 100 new workers for an indefinite period and invest 37 million EUR by the end of 2024.
The company Schiebel Components plans to open a production facility in Serbia that will produce actuators for the markets of Europe, Asia, the USA and Russia. The company will invest a little less than EUR 2 million and employ 40 new workers in Jagodina.
The company Knauf Insulation operates in the field of production of insulation materials and owns a plant for the production of insulation materials in Surdulica. The group’s main markets are Serbia, Romania, Bulgaria, Greece, North Macedonia, Albania and Montenegro. As stated on the ministry’s website, this company will make an investment of almost EUR 17 million and employ 15 new workers in Surdulica.
During January 2023, the Ministry of Economy will start the joint implementation of projects with the companies AKU Italia Srl (Milotex), Flammat, Natura Trade (third reinvestment) and Don Don (second reinvestment), eKapija writes.
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