Another Chinese investor to build factory in Zrenjanin – Investment worth up to EUR 40 million

Serbian Economy Minister Goran Knezevic and representatives of the Chinese company Shandong Yanggu Huatai Chemical, signed a memorandum of understanding in Zrenjanin, based on which the company will invest 30 to 40 million euros in the construction of a factory which will produce raw materials for the rubber industry.

Knezevic expressed his satisfaction that the investment of the Chinese company in Zrenjanin would contribute to the creation of new jobs, higher salaries and pensions and a better living standard.

– Several years ago, while I was performing the duties of the mayor of Zrenjanin, I said that Zrenjanin would be a great place to invest in and that the people of Zrenjanin would be provided with jobs several years later. Today, we have come closer to that goal – Knezevic said, as announced on the city’s website.

He said that, in addition to the good political relations, Serbia and China also had great economic relations and added that the trade had amounted to USD 2.3 billion in 2018, being 20% higher than in 2017, as he said.

Djangar Tudjinof, the marketing director for Europe, spoke on behalf of the company, saying that the main products of Shandong Yanggu Huatai Chemical were rubber chemical products used by the largest world companies.

He also said that the company went along with scientific and technological innovations and that they were on the list of rubber-chemical companies in China, with a total capital of EUR 270 million, 1,400 employees and an operating income of EUR 260 million in 2018.

Tudjinof also said that Huatai Srbija was their first project of building a factory abroad and that they would develop the markets of Europe, Russia and America, as well as distribution and services, and that they will reach international development.

– This investment entails a production line for 20,000 tons of non-degradable sulfur, an important raw material in the production of rubber. The project will cover 8 hectares and employ 101 workers, and the expected annual sales amount to EUR 40 million – he said.

He also pointed out that the production technology entailed six innovative patents and that it was equipped with a fully automated system, offering full safety and reliability. He added that the production process was entirely closed and that there would be no pollution.

– We are bringing the latest, most advanced technology to Serbia, planning to build it and put it into operation in three years, which will help the economic development and the well-being of the community – Tudjinof said.

Mayor of Zrenjanin Cedomir Janjic expressed his satisfaction that the signing of the memorandum meant the construction of another factory in the city, as a result of the arrival of the large Chinese company Shandong Linglong, of which Huatai is a subcontractor.

– We announced last year that the Southeast Zone was to be expanded by 550 hectares, and now it seems that, with the arrival of our Chinese friends and several other companies, even those 550 hectares would not be enough – Janjic said.

Ministarstvo privrede Republike Srbije

Grad Zrenjanin

Linglong International Europe d.o.o. Zrenjanin

Shandong Yanggu Huatai Chemical

Ministry of Economy

City of Zrenjanin

Shandong Linglong

Goran Knežević

Djangar Tudjinof

Čedomir Janjić

factory

factory construction

chemical industry

rubber

rubber processing