Gecić Law is delighted to announce its successful role as the legal counsel supporting JFE Shoji Corporation and its Serbian affiliate (“JFE Shoji”) in a significant greenfield investment in Serbia. This involved the acquisition of a 10-hectare land plot in the prime industrial zone of Indjija. The investor will construct a cutting-edge production plant in this location to produce motor cores. The location will also serve as the headquarters for JFE Shoji’s European operations. The foundation stone laying ceremony for this ambitious Japanese investment took place on March 18, 2024.
With an investment of 50 million euros, this pivotal project marks a major milestone for JFE Shoji in Serbia. The investment will significantly contribute to Serbia’s economy and expand JFE Shoji’s footprint in Europe. The new factory in Indjija will create more than 100 jobs in its first phase. The ceremony was attended by H.E. the Ambassador of Japan in Belgrade Akira Imamura who expressed his satisfaction with the presence of JFE Shoji Corporation, one of the world`s leading companies in the field of electrical steel.
Our Role & Team
Gecić Law’s real estate team played a crucial role, advising JFE Shoji on various aspects of the investment. The firm’s guidance in selecting the land plot was instrumental in securing a strategic location for the plant and advice through the parceling and acquisition of state-owned land plot. They also demonstrated their expertise in advising on the conclusion of other major elements of the project. This encompassed the consultancy in construction matters, including negotiations of Design and Build Contract with reputable Serbian construction company, as well as service contracts for other key construction roles and advice on requirements and procedure for obtaining the construction permit.
Miloš Petaković, Head of Real Estate Practice at Gecić Law, said: „We are immensely proud and honored to have supported JFE Shoji through this critical investment. This project represents a significant milestone in expanding JFE Shoji’s operations. It also demonstrates the potential of Serbia as a prime destination for international investment. Our team’s dedication to excellence and our deep understanding of real estate law were pivotal in navigating the complexities of this venture. As a result, we sincerely hope that this success paves the way for further Japanese investment in Serbia. It was indeed a privilege to be a part of this wonderful journey.“
This venture aligns JFE Shoji Serbia with other prominent Japanese investors in the country. These include, above all, Toyo Tires and Nidec, who have already enhanced the nation’s industrial landscape.