July 2 (SeeNews) - Czech Republic-based real estate developer CTP Invest has started the construction of an industrial park in Serbia - a project in which it plans to put 16 million euro ($18.1 million), a company official said.
The industrial park will be located in the Sumadija free zone, near Kragujevac, and will host production facilities with a total footprint of 25,000 square metres, to be used mostly by companies active in the automotive industry, Vlatko Djuricek, a representative of CTP Invest, said in a video file posted on the YouTube channel of local broadcaster RTV Kragujevac on Sunday.
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A further 8 million euro will be invested in equipment by the operators of production facilities, RTV Kragujevac reported.
"Automotive industry producers will be active here, they are suppliers of large companies and here they will produce demanding parts for one of the three largest German automobile manufacturers," Djuricek said in the video file.
According to Serbian media reports, Chinese automotive interior equipment Yanfeng plans to open a factory in the industrial park on November 1. Serbian company Autokuca Tasic plans to build a service and dealers centre for Volkswagen cars adjacent to the factory of Yanfeng, Serbian daily Danas reported on Tuesday.
CTP Invest aims is to reach more than 70,000 square metres of gross leasable area (GLA) at the industrial park, named CTPark Kragujevac, at the end of 2019, and to secure more land for new development in 2020, according to data from the company's website.
($ = 0.885114 euro)