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BELGRADE (Serbia), January 5 (SeeNews) – Chinese investors plan to invest 12 million euro ($14.5 million) in the construction of four factories for processing of plastic waste in Cuprija, in central Serbia, the Cuprija municipality said on Friday.
The Cuprija municipality said in a statement it has signed a memorandum of understanding (MoU) with Serbia-based Chinese-owned company Blue Sky Europe International Industry and Trade Technology DOO Cuprija for the construction of four factories for the processing of plastic waste and production of plastic granules.
The Chinese investors plan to complete the construction of the industrial complex in 2019 and to hire 500 employees during the first phase of its development, the Cuprija municipality said.
China's Taihe Group Limited owns 75% shareholding interest in Blue Sky Europe International Industry and Trade Technology DOO Cuprija. The remainder is controlled by Chinese citizen Guangguo Zhou, according to data from Serbia's Business Register.
($ = 0.830038 euro)