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November 23 (SeeNews) - Austrian building materials producer Baumit plans to invest 9 million euro ($10.7 million) to increase its production capacity and expand its workforce in Serbia by 2019, Belgrade-based media reported on Thursday.
Baumit aims to triple its production capacity to 120,000 tonnes of building materials annually from 40,000 tonnes in the next two years, the Vecernje Novosti daily quoted the director of the Serbian unit of the company, Melanija Pavlovic, as saying.
"Big investors in the construction industry came to Serbia, which is important for us and for the entire economy of the country. The country also is working a lot on rehabilitation of facades, buildings and transport corridors," Pavlovic said.
A number of construction projects have been completed as a result of Serbia's good cooperation with the European Bank for Reconstruction and Development (EBRD), which improves the confidence of foreign investors, she added.
Baumit set foot on the Serbian market in 2002 and started operating a production plant in Arandjelovac, in central Serbia, in 2006.
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