Source: Beta | Wednesday, 03.04.2019.| 08:37
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China’s Minth starts building its factory in Loznica

Chinese company Minth Automotive Europe started construction of its plant for manufacturing aluminum car parts yesterday. The factory will employ 300 workers initially, and hire another 700 later.

This investment is worth EUR 100 million , and it will be realized in two phases. The main contractor will be Konstruktor Konsalting based in Belgrade.

Serbian President Aleksandar Vucic attended the ceremony marking the beginning of the factory's construction, to say that the new Chinese investment in Serbia will be a milestone for Loznica, and will mean a lot for the whole of Serbia.

Vucic said that the Loznica factory would produce big car parts for various carmakers including Volkswagen.

– I hope Volkswagen will know how to appreciate the fact that more and more auto parts manufacturers are doing business in Serbia when they make a decision on where to set up a factory, he said.

Vucic added that he was expecting that his meeting with Chinese president Xi Jinping on April 25 in Beijing would result in a lot more Chinese investments in Serbia.

He pointed out that the friendship between Serbia and Chine was “strong as steel”.

Minth has factories on over 30 locations in China, Thailand and Mexico. Minth supplies main carmakers which have an 80-plus percent share of the global market. Minth exports its products to Australia, Europe, North America, Japan and Southeast Asia.
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