Japanese company JFE Shoji inaugurated a state-of-the-art factory in the Serbian town of Inđija on April 8, marking its first manufacturing plant in Europe.

The €50mn investment strengthens Serbia’s growing reputation as a key destination for foreign investment, particularly in the high-tech and manufacturing sectors.

The new facility, spanning over 18,000 square metres, will produce motor cores used in a wide range of applications, including household electrical appliances and both auxiliary and main engines for the automotive industry.

The factory is expected to create 50 jobs in its first phase, with plans to expand its workforce by an additional 200 employees over the next year. JFE Shoji intends to provide extensive training to staff in order to operate advanced technologies at the site.

"This is another big investment in Serbia, in Indjija, and from Japan. They brought the most modern machines and their products will be incorporated in household appliances and in the automotive industry," said Finance Minister Sinisa Mali at the opening ceremony.

Once fully operational, the plant is expected to make a significant contribution to Serbia’s industrial sector, with the number of employees reaching 200 as the facility’s production capacity expands.

Mali said the investment was testament to Serbia’s economic progress over the past decade. "This is an extremely important investor. I am very honoured that we have another major investment in Inđija and Serbia. When you see this space and all the new machines, as well as the products that will be installed in households, but also in cars, you see how much Serbia has changed in the last 12 years," he said.

Founded in 1954, JFE Shoji is a subsidiary of JFE Shoji Corporation, a global leader in steel trading and processing, with a workforce of over 8,500 employees worldwide. The company operates across 22 regions and employs more than 64,000 people globally.