Chinese car parts manufacturer Minth Group has opened a EUR100 million (US$110.3 million) plant in Loznica, western Serbia, according to SeeNews.com.
The plant will manufacture aluminium parts supplied primarily to BMW, Renault, and Toyota, president Aleksandar Vucic said during the inauguration ceremony.
The factory will employ around 1,000 people and Minth has plans to open more production plants in Serbia and hire over 3,000 people.
Minth Group operates in Serbia through three subsidiaries – Minth Automotive Europe, Minth Automobile Parts Balkan, and Minth Metal Parts Balkan.
Apart from the plant in Loznica, Minth has a factory in the western city of Sabac. It is also building a second plant in the city, in which it plans to produce metal components for car bodies, SeeNews said.