May 20 (SeeNews) - Italian steel structure manufacturer Tecnostrutture has signed an agreement with the southern Serbian town of Zrenjanin for the purchase of a land plot where it plans to build a factory, the municipality of Zrenjanin said on Wednesday.
Tecnostrutture plans to invest 3-4 million euro ($3.3-$4.4 million) in the construction of around 4,000 sq m factory that will employ 50-70 workers in the first phase of the project, the municipality said in a statement.
The output from the Zrenjanin plant will be exported to Ukraine and Russia, where the company has already secured buyers.
The start of the construction works is planned for June this year, but will depend on the project documents, which are currently being drafted. The construction should last 4-5 months.
($=0.8996 euro)