Hungarians to invest 120m EUR in Niš

(Niš)

Mayor Smiljko Kostić, General Manager of Hungarian "Arcadom", Isztvan Szokoray, and Aleksandra Mikić, the authorized representative of "OTP Bank" from Budapest signed the Agreement on cooperation yesterday (June 28, 2007), of which aim is long-term investment in the projects worth about 120m EUR in Niš and Niš region.

The obligation of the city, according to this agreement, would be to provide locations and help in issuing of permits and drawing of plans, while the first pilot-projects could be realized within next six months.

Mayor Kostić said that that Agreement anticipated construction of shopping mall or specialized trade center and gas station, as well as construction of cultural center with concert hall, congress center, gallery and various accompanying facilities.

He also said that the Agreement included investments in infrastructure, construction of roads, sewerage, wastewater treatment units, new stadium and sports center, as well as return of tram transportation to the city, investments in construction of university campus and rehabilitation of existing capacities of the University in Niš.