The factory will initially have 20 workers and the company plans to hire a further 50 by the end of the year, the ministry said in a statement.
Refisa is the first investor in the Priboj free zone established in the area of a former factory of truck maker Fabrika Automobila Priboj (FAP). The government expects to close negotiations with other foreign companies that will hire a few hundred employees in the coming years.
In April 2016, the Spanish Institute for Foreign Trade (ICEX) announced that Refisa has rented a warehouse in the Priboj free zone for a period of ten years where it plans to produce polyester components for train interiors, the economy ministry added.
Priboj free zone spreads on more than 26 hectares and includes a brownfield and greenfield investment areas.