South Korea’s Yura starts construction of electronic car parts factory in Albania’s Fier

By bne IntelliNews July 14, 2019

South Korean producer of electrical parts for the automotive industry Yura Corporation has started the construction of a factory in the southwest Albanian city of Fier, an investment of €13mn, Albanian Prime Minister Edi Rama announced on July 12.

Yura plans to develop an area with a total surface of 4.9 hectares in Fier, which was designated as a priority zone for the automobile manufacturing industry in 2018.

"Discovery of oil at Shpirag oil well has increased interests of foreign companies to invest in Albania," Rama announced on his Facebook page.

The Yura plant will open 1,000 jobs. Rama announced that Yura plans to open two more production facilities in Albania, in Elbasan and Librazhd.

Yura Corporation specialises in designing, developing and production of automotive electronics including wiring harnesses. The company’s portfolio also includes high voltage connectors, safety plugs, spark plugs, stick coils, fast and slow charging interfaces, and high voltage shield assemblies; applicators and circuit testers; and applicators and circuit testers.

It has a network of 20 corporations and 46 business sites in 14 countries across the world.

In the Balkan region, Yura also operates in Serbia.

Related Articles

Kosovo to join Albania's electricity grid from next April

Kosovo has signed a historic deal with Tirana to join Albania’s electricity grid as of next April, transmission system operator KOSTT said on December 2. The agreement signed between KOSTT and ... more

Albanian quake death toll rises to 51

The death toll in earthquake-hit Albania rose to 51 as the rescue operation for survivors in the country ended on November 29, the ministry of defense announced on November 30. The 6.4 magnitude ... more

Energy Community says Bosnia, Serbia, Ukraine unlikely to meet 2020 renewables targets

Bosnia & Herzegovina, Serbia and Ukraine are unlikely to meet their 2020 renewables targets, while the situation in Albania, Kosovo and North Macedonia remains questionable due to the impact of ... more