Italy's Vescovini officially becomes proprietor of 7-hectare land in Sabac

(Milos Milosevic, Valentina Lovrin Jevtic and Federico Vescovini)

In the presence of Sabac Mayor Milos Milosevic, Director of the Public Company for Building Land Management Valentina Lovrin Jevtic, and Federico Vescovini, co-owner of Italy's Vescovini Group, an Agreement on the acquisition of a 7-hectare land in the local industrial zone was signed Tuesday in the premises of the city management. According to the plan defined by the Agreement, part of the total sum for that land is already paid to the account of the City. The Italian investor expects to receive a building permit in October when the construction of a factory is planned to commence.

- I am grateful to the citizens of Sabac, the mayor and all those who helped us fulfill our plans and agreements. The selection has already started - 21 workers are attending a training in Italy in order to be ready for their jobs at the factory in Sabac as of September 2012. Construction of the factory is going to commence in October this year. The plan is that the necessary machines, which are produced all around the world, arrive in Sabac as soon as possible so that the preliminary production can start until July or August 2012 - Federico Vescovini explained.

Total investment is worth between 10 and 12 million euros. As the Italian investor stressed, expansion of the investment will depend on the arrival of educated staff.

Valentina Lovric Jevtic said that the signing of the land acquisition agreement was the result of months-long negotiations between the City and the company SBE Srbija.