Toyo Tire Company has hired Japanese engineering and development firm Takenaka to create its manufacturing facility in Indjija, in northern Serbia, Indjija mayor Vladimir Gak said.
Takenaka was picked as the primary contractor in the project and development functions will start on fifteen December fifteen, Gak said in a online video file posted on the web page of Tanjug news company and cited by SeeNews.com.
“A total of EUR367m will be invested in the first section of the project progress and 537 employees will be hired, according to the trader,” Gak said.
Building functions are planned to be accomplished within 17 months and the manufacturing facility will deliver 5m top quality tyres per calendar year, with its entire output to be exported, he additional.
SeeNews noted that last thirty day period, Serbia’s point out help commission permitted the allocation of EUR41m (US$48.7m) in government funding to Belgrade-dependent Toyo Tire Serbia, the fully owned subsidiary of Toyo Tire Company, for the development of the manufacturing facility in Indjija.
Previously this calendar year, Toyo accomplished the acquisition of a sixty three hectare land plot in the northeastern industrial zone of Indjija wherever it will create the manufacturing facility with a footprint of 300,000 sq. metres, the report said.