Germany’s ZF Friedrichshafen, or ZF Group, has attracted a new large investor to the city of Pancevo, in northern Serbia, Serbian President Aleksandar Vucic said on Friday.
“In addition to the ZF Group, there will be another great factory here. The contract will be signed soon, and I believe that the construction works will start before March 2020,” Vucic said in a video file posted on the website of Serbian private broadcaster TV Prva.
The new investor wants to be close to the ZF Group in Pancevo, said Vucic without revealing further details.
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Back in May this year, Pančevo mayor, Saša Pavlov said that he would announce “the arrival of yet another investor by the end of this year, and the other, at the beginning of the next year”.
He also added that the city authorities were working on expanding the business zone to include an additional 25 hectares of land to a total of 100 hectares.
Last month, ZF Group opened a 160-million-euro factory for electric vehicle (EV) parts in Pancevo. The factory currently employs 300 people, with that number to be raised to 1,000 after the completion of all stages of the project’s development.
The German company plans to produce electric shafts for premium original equipment manufacturers, e-mobility electric motors, electronic and mechanic gearboxes, micro-switches and printed circuit boards in the initial stage of its operations in Pancevo.
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