Chinese chemical giant Yanggu Huatai has announced that it will build a sulphur factory in Serbia. The investment is worth 30 million euros, reports SeeNews, citing Serbian government officials.
The chemical plant will be located in Zrenjanin, northern Serbia, and it will supply raw materials to a tyre factory belonging to Chinese car parts manufacturer Linglong, currently under construction and expected to start production in 2021.
Serbian government officials said that the new plant would employ 101 people.
According to a memorandum signed by the Chinese company and the Serbian government, the plant will be operational within the next three years.
Djangar Tchoudjinoff, the marketing director of Linglong Europe, added that the plant could also export its products to the rest of Europe, China and the US.