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South Korean company Yura has big expansion plans for Serbia

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According to Tanjug, South Korean company Yura has officially informed Minister of Economy and Regional Development Mladjan Dinkic that it would start construction of its second Nis-based facility, the company’s third plant in Serbia, in March 2011. The plant will produce cables for the automotive industry, while copper for the facility will be procured from Mining Smelter Basin RTB Bor. At least 300 people will be employed at the new facility, according to the Ministry of Economy. Yura has already started construction of a new plant for production of electric components for automobiles in the industrial zone Donje Medjurovo in Nis. This is the largest Greenfield investment in Nis in the last 20 years. The investment is worth €15 million and will employ at least 1,500 people. This company from South Korea earlier took over the Raca-based factory Zastava Elektro, where it invested €8 million and employs 1,300 workers.


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