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Turkish group Taypa to build textile factory in Serbia

20 Oct '17
1 min read
Serbian economy minister Goran Knezevic (left) and Taypa president Mesut Toprak after signing the MoU. Courtesy: Serbian Government/SeeNews
Serbian economy minister Goran Knezevic (left) and Taypa president Mesut Toprak after signing the MoU. Courtesy: Serbian Government/SeeNews
Turkish textile group Taypa will invest euro 35 million ($41.2 million) to construct a factory in Kraljevo, central Serbia. The investment will be made over a period of 5 years, according to the memorandum of understanding signed by Taypa president Mesut Toprak and Serbian economy minister Goran Knezevic on the sidelines of an event in Belgrade.

The new factory is expected to create employment opportunity for 2,500 Serbians, as per Serbian media reports.

Earlier in July this year, Serbian President Aleksandar Vucic said Taypa is considering opening a textile factory and a development centre in Kraljevo.

A powerhouse in the Turkish textiles and apparel market, Taypa operates a total of six factories, with four in Turkey, one each in Bangladesh and Egypt. (RKS)

ALCHEMPro News Desk – India
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