Brnabic: Tafe will produce 5,000 tractors annually in Serbia

Serbian Prime Minister Ana Brnabic has met with the CEO of India’s Tractors and Farm Equipment (TAFE), Mallika Srinivasan, to discuss the company’s plans for IMT in the upcoming period.

As the Serbian government’s website says, Srinivasan showed Brnabic the plans for the production of upgraded tractors with Euro 3 engines and said that the first such model had been presented at the Novi Sad Agricultural Fair.

She underlined that the company would primarily focus on the production of machinery for small farms, which comprise the majority of farming production in Serbia.

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Srinivasan also pointed out that she was interested in cooperating with the Government of Serbia on helping small farms to purchase the machinery produced by IMT.

Brnabic said that the Serbian government had already prepared credit support for farmers to be spent on acquiring tractors, and that the government planned on setting up a guarantee fund for fruit and vegetables growers for the procurement of needed machinery.

Srinivasan said that Tafe planned multimillion investments in IMT’s production facilities in Serbia.

According to her, the company’s goals is to have 5,000 tractors produced annually in Serbia over the next five years, and exporting to the Russian Federation market which would follow after all the required conditions have been met.

Brnabic said that the Government of Serbia would provide all the necessary help and support to the company’s management, so as to have the plans for the upcoming period realized as easily as possible.

This April, Tafe bought IMT’s trademark, the facility in Jarkovac near Secanj and technological blueprints for around RSD 66 million.

Srinivasan, who is placed 63rd on Forbes’ 2017 list of the 100 wealthiest people in India, has visited Serbia several times so far. 

(Danas, 21.05.2018)



This post is also available in: Italiano

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