Chinese planning to produce faucets and plumbing fixtures in Kula – Investment worth USD 35 million, jobs for 500

Minister of Culture and Information Vladan Vukosavljevic signed a Memorandum of Understanding with Ying Guoling, owner of Zhejiang Kangyi Sanitary Ware, a company based in Yuhuan, on Thursday, March 30, in China. The Memorandum envisages investments worth USD 35 million and employment of 500 workers in the Istra factory in Kula.

The Memorandum signed by Vukosavljevic on behalf of the Government of Serbia envisages business ventures by the Chinese investors within which a total of USD 35 million will be invested from 2017 till 2020 in a factory of faucets and plumbing fixtures in the facilities of the former Istra factory in Kula.

The investor is an international company producing high quality faucets, kitchen and bathroom elements and other sanitary equipment, says the Ministry’s press release.

The plan is to have the entire technological procedure, from casting to finishing, be carried out in the Kula factory, and the annual production, for the most part meant for exporting, should amount to around USD 50 million.

The company’s big investment in Serbia is supported by its native province of Zhejiang and the Beijing administration, as part of the New Silk Road project.

The Chinese investor had previously conducted talks at the Ministry of Economy, the Development Agency of Serbia, the Provincial Government and the Municipality of Kula, in coordination with the Embassy of PR China in Belgrade. Considering that this is an industrial facility and that the employment of a large number of people has been announced, as well as that there are no similar facilities in the region, the project has been supported on all levels, the press release says.

Ministarstvo kulture Republike Srbije

Ministarstvo privrede Republike Srbije

Razvojna agencija Srbije

Vlada AP Vojvodina

Opština Kula

Ambasada NR Kine Beograd

Zhejiang Kangyi Sanitary Ware

Ying Guoling

Vladan Vukosavljevic

Istra Kula factory

faucet factory

plumbing fixture factory

Zhejiang province

New Silk Road

Embassy of PR China in Belgrade

faucets

plumbing fixtures