June 19 (SeeNews) - US diversified innovation and technology holding company Attis Industries plans to invest up to 80 million euro ($90 million) in the construction of a biofuel factory in Kula, in northern Serbia, the Kula city government has said.
Attis Industries intends to invest between 60 million euro and 80 million euro within two years after receiving all necessary permits for the construction of the factory, the Kula city government said in a statement.
The US holding company plans to hire 160 employees at the factory and expects to complete its construction in 18 months, Vanessa Bageto, a representative of Attis Industries, said after the signing of a memorandum of understanding with the Kula city government fo the project.
The average salary in the factory will be around 1,500 euro, while the technology used by the factory is totally environmentally friendly, the Kula city government said.
Attis Industries, based in the state of Georgia, is active in the renewable fuel, biobased products and healthcare industries. The company operates a factory for the production of biofuel from corn in Fulton, New York.
($ = 0.8919 euro)