March 28 (SeeNews) - Serbia's government has signed an agreement for providing 96 hectares of land in the city of Zrenjanin to China's Shandong Linglong for the construction of a tyre factory, the city government said.
The plot of land is located in the Southeast industrial zone of Zrenjanin where Shandong Linglong intends to build a factory spreading on 500,000 square metres, the Zrenjanin city government said in a statement on Wednesday.
"This is a project of significance for Serbia and the land is provided free of charge, 96 hectares of land worth 11.9 million euro ($13.4 million) to Shandong Linglong," the director of Serbia's property agency, Jovan Vorkapic, said during the signing ceremony.
The construction of the factory, which will emply at least 1,200 people and produce 35,000 tyres daily, will start on March 30, the city government said last week.
"First, we will make a detailed plan for the implementation of the project; secondly, we will begin to hire workers who will go to training in China, and then we will set up a marketing team. We will study the local markets as well as the African market," the president of Shandong Linglong, Wang Feng, said.
Shandong Linglong said in August that it planned to invest $994.4 million in the construction of the tyre factory which will be carried out in three phases, with the last one to be completed in March 2025.
($ = 0.890694 euro)