Neoplanta to invest EUR 13 million in production plant reconstruction and warehouse construction

Serbian meat producer Neoplanta plans to invest around 13 million euro ($17.3 million) in the upgrade of its faculties in the northern city of Novi Sad, local distributor of consumer goods Nelt, which owns the company, said on Monday.

The investment is aimed at enabling Neoplanta's facilities to meet European Union standards necessary for authorisation of its exports to the EU market, Nelt said in a press release.

Currently Neoplanta exports to Russia, China, Croatia and Sub-Saharan Africa, SeeNews reports.

Neoplanta is based in Novi Sad. Its main competitors in Serbia include meat producers and processors Carnex, Juhor and Zlatiborac.