New glass net production department and job for 205 people - Government provides incentives of EUR 2 m for expansion of Masterplast

The Government of Serbia will provide incentives of EUR 2 m for the construction of new production department at Subotica-based company for production and turnover of construction material, "Masterplast" where more than 200 people will get job.

The minister of trade, Zeljko Sertic and the head of Masterplast, Tivadar Bunford, signed on Sunday, May 17, 2015 in Subotica, the Contract on assigning funds for implementation of investment project – construction of new plant for glass net production.

-Incentives are there for production expansion. So, you have a business plan where the plant would operate with 50 people and investment of EUR 3 to 4 m. The Government of Serbia adds funds so that business plan would increase so thus we reach 8,5 - 9 m and 205 jobs – Sertic said.

The minister claims that this way incentives will return in short period of time through taxes and contributions while the company with an increased headcount will have higher turnover which is estimated at EUR 15 m.

Head of "Masterplast", Tivarad Bunford, expects that the first workers will start working in August since the first 2.000 m2 of production hall will be completed by July 31 while its final capacity will be 12.000 m2.

At the moment, Subotica-based Masterplast employs 150 people, supplies 1000 construction sites in Serbia and styropor produced in Subotica is delivered on sites, "from Luxembourg to Albania".