Nis decided to donate land to companies Yura and Dytech

(Donje Medjurovo)

Town Hall of Nis decided yesterday (July 5, 2010) to allot for free total of six hectares of land to South Korean corporation Yura and Italian company Dytech for construction of their factories in Nis.

By adopting that decision, Nis has become the first city in Serbia to allot city building land for free for the needs of big investors, which is enabled by the new Law on Planning and Construction.

It was announced at the meeting of the Town Hall that Yura and Dytech would start construction of their factories in Nis in mid-September 2010, while the production should start one year later.

- These two investments are the biggest in Nis in the last 20 years, and their significance is even greater because they are foreign investments that are 90% export-oriented, which increases the competitiveness of both Nis and Serbia - said Nis Mayor Milos Simonovic.

He also said that Yura would move its headquarters to Nis although it would keep the existing capacities in Raca.

Yura obtained four hectares of land in work zone Donje Medjurovo for construction of its factory, while the Italian company got two hectares.

It is pointed out that Yura is going to invest between 10 and 15 million euros in Nis and employ 1,500 people.

Dytech will invest between 10 and 12 million euros and create 400 new jobs.