China’s Naipu Mining Machinery is planning to build a factory in Serbia’s eastern city of Zajecar, the local government said.

Local government officials agreed on the next steps on the implementation of the project, following a meeting with Naipu representatives and the Development Agency for Serbia (RAS), the Zajecar city government said in a statement on Friday, without elaborating.

The investment in the factory, which will employ more than 350 workers, is worth 25 million euro ($26.7 million), Zajecar mayor Bosko Nicic said earlier.

Established in 2005, Shangrao-headquartered Naipu Mining Machining and New Materials specialises in developing products and rubber wear parts geared towards the ferrous and non-ferrous mining industry, according to the company’s LinkedIn profile.

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