Finnish “PKC Group” to invest €8m in Smederevo

Finnish “PKC Group” to invest €8m in Smederevo

First Deputy Prime Minister Aleksandar Vucic signed today in Smederevo the Memorandum of understanding with the Finnish company “PKC Group” that specialises in the production of cables in automotive industry.

This document envisages a €8 million investment in capital assets to 2016 and the employment of 1,500 workers.

The Memorandum of understanding between the Republic of Serbia, City of Smederevo and representatives of the Finnish company was signed on behalf of the Serbian government by First Deputy Prime Minister Aleksandar Vucic, on behalf of the City of Smederevo by Mayor Jasna Avramovic, and on behalf of the Finnish company by CFO of the Executive Board Juha Torniainen.

After the signing ceremony, Vucic said that the Serbian government assisted, but that the agreement has been reached owing to PKC, and underlined that the Finnish investors did a big and important thing for Smederevo since 1,500 people will be employed once the investment is made.

In addition to the Serbian government and Ministry of Finance, this project has been supported by SIEPA, Customs Administration and the Free Zones Administration, reads a statement by the Office of the First Deputy Prime Minister.