Ariston to Get Subsidies of EUR 22.2 Million to Open Factory in Nis – Company Obligated to Launch Facility by 2026 and Employ 300 Workers

Source: Južne vesti Tuesday, 05.12.2023. 14:40
Illustration (Photo: Michal Jarmoluk from Pixabay)Illustration
At the very start of the pre-election campaign, the authorities announced that a new factory for the production of electric devices would open in Nis, but this investment does not come without the state’s incentives. The Dutch company Ariston Climate Solutions will get EUR 22.2 million in subsidies, and it is obligated to open the facility by 2026 and employ 300 workers by the end of 2027.

According to “The Agreement on the Allocation of Incentives for the Realization of the Investment Project”, the Republic of Serbia has approved total incentives of 29.6% of the justified costs of the total investment, which amounts to EUR 22.2 million. The subsidy will be paid in 5 tranches, and the first tranche, worth EUR 4 million, is already paid.

On the other hand, Ariston has to invest at least EUR 75 million.

– The user obliges to make a direct investment in material and non-material assets by the end of 2026, counting from the day of the filing of the application, in the amount not lower than EUR 75,000,000, where at least 25% of the obligation of the investment must be financed from own funds, that is, from funds which do not entail any kind of state assistance – the agreement says.

Under the agreement, the Dutch investor also obliges to employ at least 300 workers indefinitely and to not reduce that number for 5 years from the completion of the investment project.

– The value of the salary costs for the employees over a two-year period has to amount to at least EUR 72 million – the agreement says.

The agreement does not contain any information about the location where it will be built, nor has the Ministry of Economy provided an answer.

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