The State Aid Control Commission has estimated that the state aid of one million euro for the company SMP Automotive to realize its investment in the town of Ćuprija worth 39 million euro is in line with the relevant regulation.
SMP will also be given 204,176-square-metres of building land free of charge from the Serbian government, the total value of which is estimated at 122.5 million dinars. In return, the investor has to employ at least 445 people on a permanent basis within 5 years.
SMP, which was founded in Ćuprija in 2020, is engaged in the production of car seat components.
This company is part of the Samvardhana Motherson Automotive Systems Group, a global supplier to the automotive industry. The Group was founded in 1975 and is one of the fastest-growing manufacturers, with 69 plants in 24 countries and over 33,500 employees, and a consolidated turnover of $11.3 billion in 2019/2020.
A 204,176-square-metre-production facility is planned to be built in Ćuprija and the construction is scheduled to start in the second half of this year. The company says that it plans to invest EUR 39 million in building the factory and hire 445 employees by the end of 2025.
This post is also available in: Italiano