At the end of November, with the consent of the Government of Serbia, Subotica allotted a land to German Norma Group to build a factory of components for the automotive industry on it, it is announced on the website of Subotica.
The location allotted to Norma Group occupies about 3.13 ha and it is situated in Mali Bajmok business zone. The land is worth 305,000 euros and that is how much a bank guarantee provided by the investor will be worth as well.
Prior to June 1, 2011, Subotica should equip the land with the public utility infrastructure, while Norma Group should build a factory and employ 140 people in it already during the first year of operations. The German investor has also promised not to sell that lot until year 2015.
As it was announced earlier, Norma Group plans to invest about 12 million euros in the factory in Subotica and the production unit should span about 12,000 square meters.