© RAS Tanjug Tara Radovanovic Electronics Production | April 29, 2021
Kyungshin Cable opens factory in Serbia
The South Korean cable manufacturer has officially open its new production plant, which will produce battery components for high-tech electric vehicles, in the Municipality of Smederevska Palanka in Serbia.
It was back in June last year that Kyungshin Cable initiated the construction of the new facility in Smederevska Palanka. Just a few months later, in November to be precise, the new building stood complete and the company started installing the machinery at the factory. Now that we're leaving the month of April 2021, the EUR 20 million investment, which is s Kyungshin Cable's first investment in the region (a second - and only other European - production facility is located in Poland) is ready for production. The new production facility is aimed at supplying the European market and will create 700 new jobs by the end of 2022, the Development Agency of Serbia RAS states in an official announcement.