June 18 (SeeNews) - Two big foreign companies are set to invest some 100 million euro ($115.9 million) in Serbia's western municipality of Loznica, where they will employ a combined 3,000 people, the local government said.
The Loznica municipal government provided no further detail in its statement issued over the weekend
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According to local media, the two big companies due to set up shop in Loznica are American Adient and Chinese Mint, both operating in the automotive industry.
Loznica is expected to sign within the month deals with the two companies, officially marking their entry into the local market, Nikola Selakovic, secretary general of the Serbian president, told Tanjug.
Loznica has also attracted the interest of mining giant Rio Tinto which is investing some $1 billion in the area, the municipal government quoted mayor Vidoje Petrovic as saying.
Rio Tinto discovered a world-class lithium-borate deposit in the valley of the Jadar river, near Loznica, in 2004. The company has said it plans to start production in 2023, assuming that feasibility studies confirm viability and all necessary approvals are obtained.
($=0.8635 euro)