The Japanese corporation, Nidec, which is set to start producing electrical engines in Novi Sad, will start building its production plant in the Vojvodinian town in December this year.
“The good news is that Nidec is coming to Vojvodina. We met in Munich in 2018 and at the beginning of December, the construction of their plant that will produce electrical engines for cars and aircraft should begin,” says Igor Mirović, head of Vojvodina’s government.
The construction of the Novi Sad factory is the first step towards the creation of the Nidec industrial park in Europe. The company plans to invest 1.5 billion euros throughout Europe with the aim of developing its business in the continent, and a good portion of that money will be invested in Serbia.
In February this year, Nidec signed a framework agreement with the Ministry of Economy and the city of Novi Sad, committing to start the implementation of the announced project through its two subsidiaries.
The agreement stipulates that the company will invest EUR 72.9 million in Novi Sad and employ 480 workers. Nidec will also get subsidies from the Serbian budget in the amount of EUR 8.9 million, as well as possibly other types of incentives, such as income tax exemption.
This post is also available in: Italiano