Chinese chemical firm to build new facility in Serbia
Photo: Serbian Government
Chinese chemical company Yanggu Huatai is to construct a new sulphur factory in Serbia. The total investment is around €30-million, according to reports by local media.
Located in Zrenjanin, in the country's north, the facility will supply raw materials to a nearby tyre plant, owned by Linglong, a Chinese auto components manufacturer. The tyre plant currently under construction, represents an €800-million investment is forecast to begin an annual production of 13.6 million radial tyres in 2021.
A spokesperson for the Serbian government said that 101 new jobs would be created by the new Yanggu Huatai facility.
According to a memorandum signed by Yanggu Huatai and the Serbian government, the plant will be operational within the next three years. Djangar Tchoudjinoff, the marketing director of Linglong Europe said that the new facility would export to Europe, Russia and the US.
The investment is the latest in a spate of Chinese investments in the Balkan country throughout 2019.
In March, Minth Automotive Europe began construction of a new €100-million automotive components plant in Lozinca.
In April, it was announced that Serbia was to get its first industrial park, construction by the China Road and Bridge Corporation.
Tech giant Huawai announced later in April that it was to build an Innovation Centre in Belgrade, the Serbian capital.
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