- Negotiations about signing of the contract with Italian "Iveco" on investments in "Zastava Trucks" will start tomorrow (October 16, 2008) - Mlađan Dinkić, the Minister of Economy and Regional Development, announced.
- The contract will
be signed on the basis of the Memorandum of understanding, which was signed
with "Iveco" and "Magneti Marelli" on September 29 - said Dinkić.
Serbian Minister of
Economy added that the management of Fiat Group, which included "Iveco" and
"Magneti Marelli", agreed that the contract should be signed by the end of the
- The Memorandum anticipates forming of another two joint ventures
which would be 70% owned by Italian partners and 30% owned by the Republic of
Serbia - said Dinkić.
The starting investment of these companies will amount to about 240m EUR.
By the end of year 2012, "Iveco", which is the co-owner of "Zastava Trucks", would be producing special vehicles and about 2,200 buses per year in Sebia, while "Magneti Marelli" would be producing components and parts for local and foreign market.
- Both factories will be situated in the industrial zone of Kragujevac and they will have 2,350 workers - Dinkić pointed out.
He estimated that the automobile production should become the leading branch of economy in Serbia since 1 billion EUR worth of incomes from export of automobile parts were expected in 2008, without the export results of "Fiat Srbija".