Japanese Nidec to Start Building Factory in Novi Sad in December

The Japanese giant Nidec is to produce electric engines in Novi Sad, and, according to the president of the Provincial Government, Igor Mirovic, the construction of the factory should start in December.

– It is an exclusive news that the Japanese company Nidec is coming to Vojvodina. We met at the fair in Munich in 2018, and in early December they are to start building a factory of electric engines for, as they say, everything that is driven and flown – Mirovic said.

The construction of the factory in Novi Sad, as said earlier by Tsuji Shingo, the director of Nidec Srbija, is the first step toward the founding of Nidec’s industrial park in Europe.

– We plan to invest EUR 1.5 billion in the whole Europe in the development of our business, and most of this investment will be made in Serbia – Shingo says.

This February, Nidec signed the Framework Agreement with the Ministry of Justice and Novi Sad, whereby they obliged to start the realization of the announced project in that city through its two daughter companies.

By this agreement, the company obliged to investments of EUR 72.9 million and the employment of 480 workers, and financial incentives by the state of Serbia in the total amount of EUR 8.9 million are planned as well, as is the possibility of other forms of incentives, such as exemptions from the corporate tax.

Nidec Electric Motor Serbia d.o.o. Novi Sad

Vlada AP Vojvodina

Ministarstvo privrede Republike Srbije

Nidec

Igor Mirović

Tsuji Shingo

factory of electric engines

electric engines