March 4 (SeeNews) - Hungarian company UBM Trade plans to invest 20 million euro ($24 million) in the construction of an animal feed factory in Sid, northern Serbia, the city government has said.
UBM Trade carries out the project through its Serbian subsidiary UBM Feed which plans to launch the factory by 2022 and will employ about 50 employees in the first phase of its development, the Sid city government said in a statement last week.
You can download the 2023 Agriculture industry in Southeast Europe report here
According to data from Serbia's business register, UBM Trade holds a 90% stake in UBM Feed, while the remainder is owned by Hungarian company Hodler Investment.
An agreement on the alienation of construction land under public ownership was signed by Sid city government with UBM Feed on February 26.
($ = 0.830869 euro)