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BELGRADE (Serbia), July 15 (SeeNews) - Montenegro's Uniprom has opened a 10 million euro ($11.3 million) unit for production of silumin alloys at local aluminium smelter KAP, the Montenegrin government said on Monday.
Uniprom will produce aluminium alloys in the form of small ingots at the unit which will have dozens of employees, the government said in a statement.
"The new factory will make a product that can go directly to the halls of automotive or aviation giants. Every new product in Montenegro is a step towards new jobs," prime minister Dusko Markovic said during the opening ceremony at the new manufacturing unit.
In March, the owner of Uniprom, Veselin Pejovic, said the company is investing about 26 million euro in the construction of a unit for production of silumin alloys with capacity of 30,000 tonnes per year and a unit for production of aluminium billets with annual capacity of 70,000 tonnes.
KAP entered bankruptcy proceedings in 2013 and was sold by Montenegro's government to Uniprom the following year.
($ = 0.886701 euro)