German car parts manufacturer Samvardhana Motherson Peguform (SMP) Automotive plans to open a factory in the Dobricevo industrial zone of Cuprija, in central Serbia, local authorities reportedly said.
The factory will be built on a 44 hectare lot and will employ 450 people, the Cuprija city government said in a press release cited by SeeNews.com.
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"I am sure that next year, after this investor, and I will remind you that this is a significant manufacturer of car parts, many others will come," Cuprija mayor Jovica Antic said.
SMP Automotive, part of India's Motherson Group, manufactures high quality interior and exterior modules for the automotive industry, the report added.
Serbia is attracting increasing interest from the auto parts industry. Last July, Cooper Tire Serbia said it was well under way on a construction project to increase production capacity at its Krusevac tyre manufacturing plant. With investment of US$55m in equipment upgrades and facility expansion, the project will increase the size of the facility to 882,000 square feet.
In addition, the company plans to add 118 new jobs. The project is supported by approximately $8m in incentives provided by the Serbian government.
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