Another Chinese INVESTOR arrives in Zrenjanin – investment up to EUR 40 million
Economy Minister Goran Knezevic and the representatives of China’s Shandong Yanggu Huatai Chemical signed a memorandum of understanding in Zrenjanin on the basis of which the company will invest between 30 and 40 million euros in the construction of a factory that will manufacture raw materials for the tire industry. On behalf of the company, Djangar Tudjinof, Marketing Director for Europe, said that the main products of the company Yanggu Huatai Chemical were chemical rubber products that were supplied to the world’s largest companies. Tudjinof also said that Huatai Serbia was their first project of the construction of a factory abroad and that they would develop the markets of Europe, Russia and the America, as well as distribution and services and that they would achieve international development. „This investment means a production line for 20,000 tons of insoluble sulfur, which is one of the important raw materials for rubber production, the project will cover eight hectares and employ 101 workers, with an expected annual sale of 40 million euros,“ he said.