Following the launch of the production at the factory of the German automotive company, ZF in Pancevo, and the company announcing new investments in the amount of EUR 60 million, Mayor of Pancevo, Sasa Pavlov announces the arrival of two more investors from Germany, in late 2019 and early 2020.
According to the Mayor, ZF has invested EUR 100 million in the first stage of the investment and built a factory that produces car components.
The second stage entails the expansion of the production to an additional 30,000 square metres of space, and the establishment of a research and development centre, for which the company has set another EUR 60 million.
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“In the past years, the main task of the local self-government has been to equip the North Business Zone, as our estimate is that this will increase the competitiveness of the City of Pancevo when it comes to attracting foreign direct investments, which has come true,” Pavlov told Tanjug news agency.
According to Pavlov, the construction of the research and development centre guarantees that ZF has come to Serbia to develop state-of-the-art processes and stay here for a considerable amount of time. ZF plans to up the number of its workers in the Pancevo facility to 1,000 after the completion of the second investment stage.
“I do hope that we will have the pleasure of announcing the arrival of yet another investor by the end of this year, and the other, at the beginning of the next year,” Pavlov said.
He notes that that is a “substantial foreign direct investment with a high level of investment,” while refusing to divulge any more details.
Pavlov adds that the city authorities are currently working on expanding the business zone to include an additional 25 hectares of land to a total of 100 hectares.
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