Continental-ContiTech from Germany to open EUR 10 million factory of automobile parts in Subotica

Germany's ContiTech, part of the group of the multinational company Continental, should start the construction of a EUR 10 million production plant in Subotica by the year's end. ContiTech, manufacturer of automobile rubber components, is going to employ 295 workers in the first phase of operations.

Director of the public company Privredno Tehnoloski Parkovi (PTP) Subotica Branko Guslov said that Continental ContiTech, engaged in the production of parts for the automotive industry, would operate within the Free Zone in Subotica, on a 4.3-hectare lot. He added that the Feasibility Study for that company, jointly designed by the teams of PTP Subotica and the Local Economic Development Office, would be on public display in the premises of PTP Subotica prior to Tuesday, July 5.

- The Study creates conditions for the conclusion of an agreement, which will be signed by the Ministry of Economy and Regional Development, the City of Subotica, and representatives of the Company. The obligations of the City are to equip the building land and allot the land for free, while the state has an obligation to grant incentives in the agreed amount through the Investment and Export Promotion Agency (SIEPA). After the public insight, the Study should also be approved by the City Assembly and the Government of the Republic of Serbia, and only then will we be able to sign the agreement - said Subotica Mayor Sasa Vucinic.