Pretty Group: Textile production incentives in Sombor

Textile company from Bangladesh, Pretty Group signed an agreement on the allocation of EUR 3.4 million worth of incentives for launching a production textile facility in Sombor, which will create 1,100 jobs – the Serbian Ministry of Economy has announced.

In addition to Government officials, the signing was attended by Davor Brecic, a representative of Pretty Group, and lawyers Aleksandar Mladenovic and Vuk Stankovic of the Mladenovic & Stankovic law firm, and the lawyers from Rokas International Law Firm, the investor’s legal counselor.

The total estimated value of Pretty Group’s investment is EUR 14.3 million.

The project will be realized through a combination of investments in the existing production capacities (brownfield), and investments in new production capacities (greenfield), along with the latest technology used in the textile industry, which the investor intends to utilize.

The expected annual production capacity will be 2.4 million production units.

(eKapija, 10.01.2017)

http://www.ekapija.com/website/en/page/1641354/Pretty-Group-from-Bangladesh-to-open-textile-facility-in-Sombor-State-sets-aside-EUR-3-4-million-in-subsidies

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