Zrenjanin will produce 13 million tires per year
The Chinese Linglong plant in Zrenjanin, where serial production of car tires began on Friday, will produce 13 million tires per year.
Construction of the 370,000 square meter Linglonga factory began in March 2019. The value of the investment is more than one billion dollars.
Last year, the net profit of Linglong in Serbia was 195.1 million dollars, and the operating income was 2.8 billion dollars.
General Director of Linglong Fang Veng pointed out that the company has been operating in Zrenjanin for a year and has good results, and expects income that will significantly contribute to the development of the Serbian economy.
“This is one of the largest factories in Europe. We cooperated with more than 100 companies during the project,” he said and pointed out that “green production” is an important component of his company’s development.
China’s largest “greenfield” investment
Chinese Ambassador to Serbia Li Ming said that Linglong in Zrenjanin is the first Chinese tire factory in Europe and the largest Chinese “greenfield” investment project in Serbia.
“In the past 10 years, China and Serbia have devotedly built the ‘Belt and Road’ initiative,” the ambassador said, adding that trade between the two countries has increased eight times, and Serbia’s exports to China have increased by as much as 185 times.
He pointed out that the trade relations between the two countries have been raised to a new level, because the Free Trade Agreement between China and Serbia has been in force since July 1. “The number of Chinese companies investing in Serbia, as well as the amount of investments, is constantly growing,” said Ming.
The ambassador pointed out that the favorable conditions for doing business in Serbia instill confidence in Chinese investors.
“I believe that more and more Chinese companies, such as Linglong, will invest in Serbia, bringing new technologies and ecological production,” said the Chinese ambassador.
The President of Serbia Aleksandar Vučić, General Director of Linglong Tire Feng Wang, President of the Provincial Government Maja Gojković, Ministers of Economy and Environment Adriana Mesarović and Irena Vujović, Mayor of Zrenjanin Simo Salapura, Chinese Ambassador to Serbia Li Ming were present at the ceremony marking the start of serial production.
Source: Beta
Photo: Pixabay, Beta
Source: bizlife.rs
