An agreement on the compensation-free alienation of building land at Free Zone Zrenjanin in favor of the Chinese investor Shandong Linglong Tire Co Ltd, for the purpose of building a factory, will be signed in Zrenjanin tomorrow, March 28, 2019.
As the Property Directorate of the Republic of Serbia announced, the state will thereby transfer slightly over 97 hectares of building land to the Chinese investor, based on the government’s decision.
The agreement will be signed by the director of the Property Directorate, Jovan Vorkapic, on behalf of Serbia, and the owner of Shandong Linglong Tire.
The Chinese company will invest EUR 800 million in the opening of a new tire factory at Free Zone Zrenjanin.
The project will be completed within seven years. The plan is to employ 1,500 people. Of these, 1,200 jobs will be open to local populace, whereas 300 people will be sent from the parent company in China, for the purposes of equipment installation, test run and training.