Home appliances maker Hisense Gorenje officially announced on Thursday it will start producing TV sets at one of its former facilities in Velenje in January 2021, according to a press release on its website.

The Chinese-owned company announced that the Hisense Europe Electronic TV factory will involve around 400 jobs in the first stage, 330 of which for production workers.

The Hisense Europe Electronic factory, is being set up within the Gorenje production area in Velenje, the city in northeastern Slovenia. The investment in technological equipment will be worth 7 million euros (8.18 million U.S. dollars).

The planned annual output at four production lines in the first stage is two million sets a year. Capacities and output are then expected to grow in line with market demands to almost four million sets a year by 2023, according to the release.

The establishment of Hisense TV production will contribute to not only reducing local unemployment, but also strengthening innovation, expanding production activities, sustainable development, and greater competitiveness and internationalization, the company said.

"Creating a larger number of new jobs in the Savinjska-Saleska region has additional weight in the light of the restructuring of this coal-mining region. Additional development potential for the region is harboured by the possibility of setting up a local supply network, which is particularly important for the small business sector," Hisense Gorenje wrote.