The German company ZF, a leader in the car industry market, will start producing machines, generators for hybrid and electric drives, gearshift switches and microswitches in the first half of June, according to the announcements.
The beginning of the factory's operations within the first phase of the EUR 160 million investment, on 10.8 ha of the North business zone in Pancevo, which the city has given to the investor free of compensation, will mean 540 new jobs for the people of Pancevo.
– This developmental investment is primarily important for Serbia, as shown by the government's decision to pronounce it an investment of importance for the state's development. For Pancevo, it is the first direct greenfield production-technological investment in the past 40 years that means economic development: 1,000 new jobs, but also a significant transfer of state-of-the-art technology. The increase of public revenues, 67% of which will remain in the local self-government, is no less important. Also, this is a new incentive for our high school students to find secure jobs more easily through dual education – says Sasa Pavlov, the mayor of Pancevo.
ZF will start the second phase of investments this year as well, instead of 2022, as initially planned. The new cycle is also likely thanks to the decision of the City Assembly of Pancevo, which has adopted the study and the decision on providing the investor with another 9.2 ha in the North business zone free of compensation
According to this document, the second phase will entail the construction of another production facility of 29,500 m2 and an R&D center of 5,000 m2. The realization of the next investment cycle from 2019 till 2022, worth around EUR 60 million, will lead to the employment of at least 460 workers at the production facility, as well as highly qualified workforce at the development center.
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