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Home/Market News & Opportunities/Market News & Opportunities/Yura from South Korea makes third investment in Serbia in March

Yura from South Korea makes third investment in Serbia in March

The South Korean company Yura yesterday officially informed Minister of Economy and Regional Development Mladjan Dinkic that it would start construction of the second plant in Nis, the company’s third plant in Serbia, in March 2011, people at that ministry told Tanjug.

The plant will be producing cables for the automotive industry, copper will be procured from Mining Smelter Basin (RTB) Bor, and minimum 300 people from Nis will get jobs, said the people at the Ministry of Economy.

This company has already started construction of a new plant for production of electric components for automobiles in the industrial zone Donje Medjurovo in Nis.

It is the largest greenfield investment in Nis over the last 20 years. The investment is worth 15 million euros and it will enable employment of minimum 1,500 people.

This company from South Korea earlier took over the Raca-based factory Zastava Elektro and it currently has 1,300 employees in that plant, while the projected investment in that production capacity amounts to about 8 million euros.

Source ekapija.com