BELGRADE (Serbia), December 14 (SeeNews) – Serbia’s largest alcohol producer Rubin, owned by local Invej holding company, said it plans to invest 3.0 million euro ($4.4 million) next year in a new 209-hectare vineyard plantation, local media reported on Monday.
“More than 50 hectares have been ploughed up so far,” Belgrade-based news provider EMportal (www.emportal.rs) quoted Miroslav Jovanovic, a consultant to the company's director general, as saying. The planting of the vineyard, in Paracin in central Serbia, will begin next spring and will be completed in 2011.
Rubin, which employs close to 400, posted 626.7 million dinars ($9.6 million/6.5 million euro) in net profit last year, up from 489 million dinars in 2007, data from the country's business registry showed. The company’s 2008 operating revenue rose to 2.7 billion dinars from 2.1 billion dinars in 2007. Rubin is based in Krusevac, in south-central Serbia.
Invej is one of the biggest holding companies in Serbia. Besides Rubin, it also comprises Serbia's leading cooking oil producer Vital, detergents maker Albus, tools manufacturer Impa and cigarette maker Monus. Invej posted the third highest net profit of 3.47 billion dinars in Serbia lasy year, according to the Republic Development Bureau.
(1 euro=95.9459 Serbian dinars)