The Serbian government will donate to the German company Brose Ltd. a plot of land worth almost 1.5 million euro for the construction of a plant for the production of automotive equipment near the town of Pancevo, in Vojvodina.
The Commission for State Aid Control approved this plan on 14th November, reports Nova Ekonomija.
The land, which spans more than 22 hectares, was donated to the company for the construction of a plant for the production of steering equipment, electric pumps for oil and cooling motors for ventilation, as well as for the construction of a research, development and sales facility.
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The estimated value of the land is 173,819,575 dinars or 1,477,489 euro. The German company will be required to employ at least 1,100 full-time workers by 2026. The total cost of the planned investment planned is 180,300,000 euro.
Brose Ltd. is a subsidiary of the German company Brose International, the fourth largest automotive supplier in the world. The Group operates in 23 countries and employs about 26,000 people worldwide, according to the company’s website. The company produces mechatronic systems for car doors and seats, as well as electric motors, drives and electronics for engine control, braking, transmission and cooling.
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