NIS, SERBIA -- Cooperatief IMI Europe, a unit of Integrated Micro-Electronics Inc., plans to open a 30 million euro ($34 million) plant here country officials said.

The national economy ministry has signed a memorandum of understanding with the EMS company, which calls for construction to begin in early 2017.

The site could employ up to 1,250 workers in the next 10 years.

IMI opened the European unit in Bulgaria in 1997, and has focused locally on automotive electronics.