Toyo Tire has selected a contractor to build a tire plant in Serbia
Dec 07, 2020
Toyo Tire Corporation has hired Japanese engineering and construction company Takenaka to build a tire factory in the city of Indjija in northern Serbia. This was announced by the mayor of the city Vladimir Gak.
Takenaka, which has been selected as the lead contractor for the project, will begin construction work on December 15th.
In the first phase of the project, 367 million euros will be invested in it, and the number of hired employees will reach 537.
Construction work is scheduled to be completed within 17 months. The plant will produce five million premium tires a year, all of which will be exported.
Last month, the Serbian State Aid Commission agreed on €41 million in public funding for Toyo Tire Serbia in Belgrade; the funds are intended for the construction of a plant in Indzhiya.