Ministry of Economy Supports Five Projects in Automotive and Electrical Equipment Industries Worth Around EUR 180 Million

Source: eKapija Sunday, 25.12.2022. 12:14
Illustration (Photo: isak55/
This December, the Ministry of Economy supported new investments in the sectors of the automotive industry and the production of electrical equipment. This pertains to five multi-annual investment projects with renowned companies and world-famous producers of parts and equipment, which will bring high technology and production processes and employ over 420 people.

According to the website of the ministry, the companies in question are Muehlbauer Automation, Nidec Electric Motor Serbia, Nidec Elesys Europe, Schiebel Components and Knauf Insulation.

By the end of 2025, Muehlbauer Automation plans to invest EUR 29.5 million in the construction of a new factory for the production of machines for the production of batteries and fuel cells in Stara Pazova and employ 150 new workers.

Nidec Electric Motor Serbia will invest EUR 93 million in Novi Sad by the end of 2026, and by the end of 2024, it will employ 116 new workers. The investment pertains to the equipping of the facility for the production of electronic equipment for motor vehicles. The main markets of the NIDEC EUROPE B.V. group, within which it operates, are countries in Europe and Asia.

Nidec Elesys Europe is realizing an investment which pertains to the equipping of the facility for the production of electrical and electronic motor vehicle parts, through which at least 100 new workers will get full-time employment and through which EUR 37 million will be invested by the end of 2024.

Schiebel Components plans to open a production facility in Serbia which will produce actuators for the markets of Europe, Asia, USA and Russia. The company will invest slightly under EUR 2 million and employ 40 new workers in Jagodina.

Knauf Insulation operates in the field of the production of insulation materials and has a facility for the production of insulation materials in Surdulica. The group’s main markets are Serbia, Romania, Bulgaria, Greece, North Macedonia, Albania and Montenegro. This company, according to the ministry’s website, will make an investment of close to EUR 17 million and employ 15 new workers in Surdulica.

In January 2023, the Ministry of Economy will also commence the joint realization of projects with the companies AKU Italia Srl (Milotex), Flammat, Natura Trade (third re-investment) and Don Don (second re-investment).

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