Shandong Linglong wants to begin construction in April 2019 in the most recent enormous cash Chinese investment in the Balkans.
A Chinese company intends to contribute nearly $1 billion to construct a tire manufacturing plant in Serbia’s Zrenjanin Free Trade Zone, SeeNews announced, refering to a documentary by the Shandong Linglong company on the Shanghai Stock Exchange.
The report said the company wanted to create more than 13 million superior outspread tires for every year at the manufacturing plant, attracted by bring down generation costs than somewhere else in Europe.
It said construction would begin in April 2019 with a finishing date of March 2025.
News of the investment takes after long periods of unverified reports in Serbian media that Linglong wanted to spend somewhere in the range of 400 million euros in the nation.
The Serbian government says Chinese investment stretched around $6 billion before a year ago’s over.
In 2010, state-claimed contractual worker China Road and Bridge Corporation constructed a 170-million-euro connect over the Danube, financed with a credit from the Export-Import Bank of China, Exim.
By 2016, Serbia owed Chinese banks somewhere in the range of 5.5 billion euros, and Bank of China even opened a Serbian branch in January 2017 to benefit the developing number of Chinese organizations taking a gander at circumstances in Serbia.
In May 2017, Serbia obtained $297.6 million from China’s Exim bank to back the reconstruction of the railroad amongst Belgrade and Stara Pazova, the primary leg of another rapid, Chinese-manufactured rail route line to Budapest that falls added to China’s Repertoire and Road Initiative to convey Chinese merchandise to Europe.