Investment of Inobat in Cuprija Estimated at EUR 2 Billion

The investment of Inobat in Cuprija should be worth more than EUR 2 billion, stated the president of the Municipal Assembly of Cuprija and a member of the national parliament, Ninoslav Eric. He added that it was great news for the citizens of Cuprija and central Serbia that the Slovakian company Inobat had announced that it would build a factory for the production and recycling of electric batteries for cars in Cuprija.

Still, Eric says that the signing of the Memorandum of Cooperation does not automatically entail the realization of the project.

– We got the letter of intent from the Slovakian company Inobat, and we are always getting such letters of intent from various companies. What’s good news is that they have provided that piece of information that they will invest in our town – Eric said in a statement for the media.

Eric adds that there have been some negative pieces of information about that project too.

– They concern subsidies and whether Rio Tinto is connected with them. What we can say is that the level of investments they want exceeds several billion. Of course the state is going to support them with subsidies. Those subsidies will be within the standards of the European Union and in line with the laws of the Republic of Serbia. The higher the subsidies are, the more someone is investing – Eric said.

The CEO of Inobat, Marian Bocek, stated earlier that they had selected Cuprija as Inobat’s second location thanks to its hospitable local community and practical and proactive municipal authorities. Eric says that Cuprija has the biggest industrial zone in that part of Serbia

– We have over 700 hectares of the industrial zone Dobricevo, along the highway itself, which is suitable for investors. In 2018 and 2019, we had talks with Volkswagen. In addition to battery producers, we also want to have producers of electric cars – Eric said.

The Memorandum of Understanding says that Serbia would support the investment with EUR 419 million and that the factory will comply with all the environmental standards that are in effect in Serbia and the European Union.

– This investment will have a big impact on the gross domestic product. Of course the factory will work in line with the EU standards. The same kind of factory exists in Slovakia, and there will be another one in Spain and, I hope, in Cuprija as well – Eric said.

Eric also added that the Memorandum of Cooperation had been signed, but that the concretization of the project was yet to take place.

Opština Ćuprija

InoBat Auto doo Beograd

Inobat

Ninoslav Erić

battery factory

construction of a battery factory

batteries for eVehicles

Memorandum of Understanding