BELGRADE (Serbia), June 21 (SeeNews) – The construction of seven car parts factories in Serbia worth 93.7 million euro ($134.3 million) in combined investment will be completed by the end of this year to meet the needs of local auto maker Fiat Automobili Srbija (FAS), Economy Minister Nebojsa Ciric said.
The factories are expected to employ roughly 1,000, Ciric said in a statement on the government’s website late on Monday.
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FAS is Italian car manufacturer Fiat’s joint venture with Serbia’s state-owned car maker Zastava.
Johnson Controls Seats, Proma, Sigit and HT&L Fitting will open factories in Grosnica, in central Serbia. Another two factories will open in Kragujevac, also in central Serbia, where FAS is based but the investors were not disclosed.
($ = 0.6979 euro)