China's Xingyu acquires land for factory construction in Serbia - report
BELGRADE (Serbia), January 10 (SeeNews) - Chinese company Changzhou Xingyu Automotive Lighting Systems has acquired land for the construction of a 50 million euro ($55.5 million) factory in Nis, in eastern Serbia, according to Serbian media reports.
Xingyu has purchased a land plot of 6.6 hectares in Nis' industrial zone West from a private company, news agency Tanjug quoted sources from the city's economic development office as saying on Thursday.
The Chinese company plans to expand the footprint of the factory to 13.5 hectares in the future, Tanjug said.
In November, Serbian media reported that Xingyu intends to hire 1,000 employees at its future factory and start construction works in the first quarter of 2020.
Xingyu, listed on the Shanghai Stock Exchange, is active in the research and development, design, manufacturing and sales of automotive lamps. The company is the largest Chinese car lighting manufacturer and a partner to European, Japanese, American and Chinese carmakers, according to data published on its website.
($ = 0.900501 euro)
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