PKC Wiring Systems getting EUR 2.5 million more – Finnish to employ around 500 workers more in Smederevo

Finland’s PKC has received EUR 5 million in state subsidies from the state budget so far, the Ministry of Economy confirms. By March next year, the Finnish investor should get EUR 2.5 million more if it employs the planned 1,500 workers.

The Commission for State Aid Control has approved the subsidies for PKC Wiring Systems and obliged the Government of Serbia to pay out EUR 7.5 million to the client in three installments within three years.

– Two installments of EUR 2.5 million each have been paid so far, a total of EUR 5 million, and the agreement conditions have been fulfilled – states Branka Erdeljan, authorized person for free access to information at the Ministry of Economy.

Erdeljan reminds that PKC had obliged to permanently employ at least 1,500 workers, starting from 2014, within 24 months of the day of the signing of the record of the handover of the new facility.

The factory has 1,000 workers at the moment.

The subsidy was set based on the Regulation on Rules for State Aid Granting at 60% of the expenses for opening job positions.

PKC operates in a rented hall built by the City of Smederevo in the amount of RSD 682 million. PKC has obliged by the agreement with the Government of Serbia to investments in the amount of EUR 8.5 million.

PKC Wiring Systems Smederevo

Ministarstvo privrede Republike Srbije

Vlada Republike Srbije

Grad Smederevo

PKC Wiring systems

Ministry of Economy

Commission for State Aid Control

Government of Serbia

Branka Erdeljan

City of Smederevo

cable factory Smederevo