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Magneti Marelli to build factory in Kragujevac

Belgrade, 25 May 2010

Deputy Prime Minister and Minister of Economy and Regional Development Mladjan Dinkic, Chief Executive of Magneti Marelli Eugenio Razelli and Mayor of Kragujevac Veroljub Stevanovic signed an Agreement today on the construction of the Magneti Marelli factory in Kragujevac.

Author: www.rts.rs

The Agreement was signed as part of the international conference on the automotive industry “New production centres and chains of suppliers in Serbia”, which has been organised by the Serbian Ministry of Economy and Regional Development and the Serbian Investment and Export Promotion Agency. The conference is being held in the Sava Centre.

Dinkic said that this factory, which will employ around 400 people, is expected to be completed by next summer near the car factory in Kragujevac.

He specified that Magneti Marelli, as one of Fiat’s main suppliers, will invest €60 million in this factory which will make parts for 200,000 vehicles per year.

The Minister said that the Serbian government will provide €10 million, which is in line with the decision on attracting investment and creating new jobs, that it will enable the factory to operate in a free economic zone, and it will also give €800 in subsidies per each new employee.

Dinkic said that Kragujevac will provide and equip five hectares of land with infrastructure at nominal prices, as well as provide local tax benefits.

Razelli called on other car part makers to invest in Serbia and underlined that Magneti Marelli’s investment is realised due to support from the Serbian government.