September 20 (SeeNews) - Serbian state-owned explosives manufacturer Milan Blagojevic Namenska plans to invest a total of 16 million euro ($18.7 million) in new technologies in the next two years, a senior company official said.
The company intends to invest 8 million euro in the upgrade of its facilities this year, the general manager of Milan Blagojevic Namenska, Rados Milovanovic, said in a video file posted on the website of news agency Tanjug.
Milan Blagojevic Namenska has launched trial production at a new nitration unit in its Lucani plant, Milovanovic said.
The new unit, in which Serbian government has invested 4.4 million euro and Milan Blagojevic Namenska 1.6 million euro, will increase the safety and quality of the company's products.
Milan Blagojevic Namenska produces double base artillery powders, ballistite and double base rocket fuels and exports 85% of its output, according to data posted on the company's website.
($ = 0.855379 euro)