Toyo bought a site for its tire plant in Serbia

In mid-September, Japanese tire manufacturer Toyo Tires formally acquired a 64-hectare plot of land to build its European tire plant.

The site is located in the industrial zone of the Serbian town of Indjia.

In July 2019, Toyo announced its intention to build its production center in Serbia with an initial capacity of 5 million tires per year. The project is estimated at 390 million euros.

At the moment, the tire manufacturer says the plant was slated to start in January 2022. The Serbian enterprise will produce Toyo tires for the European market. However, in an interview with the local newspaper Dnevnik, the mayor of Indzhia, Vladimir Gak, said that now the plant will start operating only at the end of 2023.

The enterprise will create more than 530 new jobs.

In the second phase of the development of the company, Toyo intends to double its production capacity, to 10 million passenger tires per year, and increase the investment to about 1 billion euros.