Germany’s Kromberg & Schubert company opened an automobile cable production plant in the Serbian town of Krusevac on Thursday in the presence of President Aleksandar Vucic and Ambassador Axel Dittman.
The plant was built with an investment of 29 million Euro and will employ up to 2,500 people once it reaches full capacity in 2022. The Serbian government paid 9.5 million Euro to the German company in stimulation and the town of Krusevac gave it 6.2 hectares of land with accompanying infrastructure to build the plant which now employs 600 people with plans to bring in 200 more by year’s end.
Vucic said at the opening ceremony that the country’s bad demography could improve with the opening of new factories as a way for people to be sure their children will have a future in Serbia. He expressed the hope that company owner Hans-Otto Kromberg will decide to make a new investment in Serbia.
The president said efforts would continue to improve the business environment. Serbia will face “hard times, a lot of pressure from outside and inside which is why it’s important for us to remain unified”, he said.