Despite Government's subvention, works on construction of factory "Zamber" in Vranje on hold - Serbia started procedure for breaking of contract

- The state has launched the procedure for breaking of the contract and activation of the banking guarantee worth 3m EUR, which was allotted to Greek company "Zamber" - says Mlađan Dinkić.

Minister of Economy and Regional Development, Mlađan Dinkić, said that the state had protected itself on time thanks to that banking guarantee that equalled non-refundable subvention that had been allotted to Greek company "Zamber", which discontinued development of textile factory in Vranje and its owner is nowhere to be found in Serbia.

This Greek company started development of the factory in Vranje, which should provide jobs for about 1,500 textile workers, and the state paid 3m EUR to that company for that purpose.

The works on construction of the factory have been discontinued and the owner of the company has disappeared from Vranje.

Dinkić said that that company "presented banking guarantee worth 3m EUR because of the government's subvention", so that the state had lost nothing.

- Vranje lost new jobs - said he and added that the assistance would be provided to the bulding company that had been building that factory hall.

- They have been approved the first installment of the loan from the Development Fund and there are also numerous other possibilities for this property to be put into operation. As far as this project is concerned, we haven't lost anything. Vranje lost new jobs, but it is good that we protected ourselves on time - Dinkić estimated.

Vlada Republike Srbije

Zamber d.o.o. Vranje

Grad Vranje

Ministarstvo privrede Republike Srbije

Fond za razvoj Republike Srbije Niš

Mlađan Dinkić