Luxembourg-based nanotechnology company OCSiAl opened its first graphene nanotube manufacturing facility in Serbia on October 29, establishing the country as a new hub for industrial nanotechnology innovation in Europe.

The facility, located in Stara Pazova, is set to boost Serbia’s position in the high-tech manufacturing sector. This state-of-the-art plant is Serbia's largest foreign direct investment (FDI) from Luxembourg to date.

Serbia’s Finance Minister Sinisa Mali highlighted the strategic value of the investment, noting, “It is the first major investment from Luxembourg, after Serbia firmly positioned itself on the investment map of Europe ... We welcome Luxembourg's decision to invest with us and we hope for new projects.”

Prime Minister Milos Vucevic echoed Mali's optimism, adding that OCSiAl’s arrival underscores Serbia’s attractiveness as an investment destination. “This is the best confirmation that Serbia is a good place for investments. The arrival of this company is the best invitation for others,” Vucevic stated, noting that more than two-thirds of foreign investments in the Balkans are directed towards Serbia.

The 10,000-square-metre facility is expected to employ over 200 people and represents a €40mn investment. This plant will be the only site globally dedicated solely to industrial-scale graphene nanotube production, positioning Serbia as a unique supplier in a rapidly expanding market.

The products manufactured in Stara Pazova will serve industries worldwide, including automotive, aerospace, electronics, construction, oil, and gas, with exports slated for over 50 countries. Vucevic claimed that these exports will be integrated into “almost all production processes and economies around the world”.

In addition to driving technological advancements, OCSiAl plans to invest in Serbia's human capital, offering training to local engineers and scientists alongside international experts. “The company is ready to contribute with its expertise and resources to the creation of innovative educational programmes, with the aim of inspiring young researchers in the field of nanotechnology and developing future talents in Serbia,” OCSiAl announced in a statement.

Vucevic highlighted the potential benefits for Serbian scientists and young talent, noting that the facility’s cutting-edge projects will help the country continue attracting high-tech investments. “We once again showed that our country is the best destination for investing in the technologies of the future,” he said.

Mali expressed hopes for further investments, especially as Serbia prepares to host the international exhibition EXPO 2027. Anticipated to draw millions of visitors, the event could provide a stage for Serbia to showcase its commitment to innovation in fields like energy, education, and green projects. Inviting Luxembourg to participate, Mali expressed gratitude for the country's recognition of Serbia’s investment potential.