|Chinese United Alloy-Tech Europe to invest 300 mln euro in Serbia|
|17th February 2023|
Chinese car part manufacturer United Alloy-Tech Europe (UATE) will invest 300 million euro ($320.3 million) in expanding its Serbian production footprint in the western city of Sabac by building a factory, its fourth in the city, the city mayor said.
The construction of a fourth factory is planned to start by the end of the year, Sabac mayor Aleksandar Pajic said last week, as quoted in a statement by the city authorities.
The new factory will employ 1,500 workers, he added.
The construction of the company’s third factory in the city, where it will employ 1,000 staff, is already underway, he added. The factory spans 84,000 square metres.
UATE began building its second facility in Sabac in March last year, an investment worth 50 million euro, according to local media reports.
|27th October 2023|
|Former Chinese prime minister Li Keqiang has died, CSEBA expressed its condolences|