Vibac pours EUR 60 mil in adhesive tapes production in Jagodina - July to see plant construction start

The Minister of Finance and Economy, Mladjan Dinkic and the director of the Italian company Vibac, Patricio Masini, has signed today the contract on allotment of direct investment to the company. The company will build a plant in Jagodina, pour EUR 60 mil and hire 300 workers.

Jagodina-based Vibac company will produce adhesive tapes and polypropylene foils.

With Masini and the Mayor of Jagodina, Ratko Stevanovic, Dinkic signed the Framework Agreement on regulation of mutual rights and obligations between the Republic of Serbia, City of Jagodine and Vibac company.

After signing the agreement, Dinkic said that it was one of the largest foreign investments to be realized in Serbia this year.

He said that the facility would occupy 40,000 square meters and would be one of the largest industrial facilities which would be built in Serbia this year.

Construction works are due to start by the end of July, and the Government will make sure that everything with respect to land transfer issue is settled in the next few weeks so that Vibac could start construction.
- Production operations and employment is the only right answer to crisis, and this in Jagodina today is a part of that – Dinkic said.

The President of the Municipal Assembly of Jagodina, Dragan Markovic, pointed out that the factory would hire more than 300 workers and that the city will benefit from the factory since a large number of people would work on its construction while the state and the city will benefit from income tax.

Masini said that Jagodina-based company would produce adhesive tapes and that they would export production output primarily to South-Eastern Europe and former Soviet republics.

- We will export to markets which have not been accessible, thanks to benefits that Serbia offers to investors - he said.