The German company ZF Friedrichshafen has started with the construction of their electric train factory in Pancevo, worth 160 million euro. A total of 1,000 workers will be employed in the factory once is finished.
The factory is being built in Pancevo’s North Business Zone. The first investment phase will be realized by 2021, and it entails the construction of a 25,000-square-metre facility on 10,8 hectares of land. During this first phase, a total of 540 new jobs will be created.
In the second phase, from 2022, the location would be expanded and another facility, also spanning 25,000 square meters, would be built.
ZF Friedrichshafen employs more than 140,000 people in 230 locations in 40 countries, and its last year’s profit amounted to EUR 36.4 billion.
Serbian President, Aleksandar Vucic, attended the official beginning of the construction works, and said, on the occasion, that that was one of the biggest investments in Serbia and that it would mean a lot to the least developed part of Vojvodina, but also to the entire country.
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Vucic also expressed his hope that ZF Friedrichshafen would open production facilities in at least two or three other locations in Serbia and employ 100 people at its scientific research centre.
“Thank you for being here. May you stay here for a long time and invest again. We will offer to you at least 5% higher investment incentives than everyone else”, Vucic said to ZF’s representatives and reminded that German companies currently employed over 47,500 people in Serbia.
President Vucic also said he expected the GDP growth to over four percent this year
“Serbia is among the 15 best investment destinations in Europe and will be even better because we have good laws and regulations, we are subsidizing and building infrastructure,” Vucic said.
A ZF Friedrichshafen manager, Michael Hankel, said that numerous factors had contributed to the company choosing Serbia as the country to invest.
“Numerous factors have influenced our decision where to build the factory, and we picked Pancevo thanks to its excellent infrastructure. We have plenty of room to expand the factory, and there is a great potential for its development like the proximity to several major roads and to the capital of Serbia”, Henkel said.
What sets ZF apart, Henkel explained, is the use of new technologies and electro-mobility.
“We are using a new generation concept in order to cover the needs of transportation sectors”, he added.
Mobility is ZF’s main advantage and root of its success – says Jorg Grotendorst from ZF, and adds that the car engine production at ZF doubled each year and that they expected to produce close to half a million electric engines the next year.
(RTS, eKapija, 21.06.2018)
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