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Serbia says China's CNEEC ready to invest $1.2 bln in local projects

Serbia says China's CNEEC ready to invest $1.2 bln in local projects

BELGRADE (Serbia), September 9 (SeeNews) - China National Electric Engineering Co. (CNEEC) is ready to invest around $1.2 billion (929.1 million euro) in three projects in Serbia that could create 12,000-15,000 jobs, the government in Belgrade said on Tuesday.

One of the projects the Chinese company plans to develop is the Stublenica–Ub industrial park which has reached the masterplan phase, a government statement quoted CNEEC president Jin Chunsheng as saying after a meeting during Serbian prime minister Aleksandar Vucic's trip to China.

CNEEC has also submitted a technical proposal for the upgrade of a thermal power plant in Serbia as well as a letter of interest for investments in local machine-engineering companies IMR, DMB and IMT, the statement said.

Vucic was quoting as saying an agreement was expected to be reached during his visit on the participation of China Railway Construction Corporation in the project for a high-speed rail link between Belgrade and Budapest.

In November, Serbia said an agreement had been reached with Hungary and China to jointly build a railway between the two Eastern European countries.

($=0.7742 euro)