Contract on investment with Sitip soon – Italian company is planning to open plant totaling EUR 50 mil

(Photo: sitip.it)

In March this year, the representatives of the Zrenjanin Assembly agreed to assign the land in the Industrial zone Northwest Elemir to the company for production of synthetic and elastic fibers at the price 50% lower than the market price and the Government of Serbia gave a positive feedback on that as well.

The implementation came after a six month negotiations of the city authorities with the Sitip reps.

The company is planning to start production of synthetic fibers in Zrenjanin as well as to recruit 150 people in the first stage and by the end of the third year more than 500.

It was planned to start construction of department at 12.500 square meters this year and the deadline for the works completion is January 2015 when the production will start.

In 2017, the company is planning to expand capacities and construction of another facility at 52.500 square meters.