The investment to Serbia just keeps coming, with Japan Tobacco International (JTI) launching a new production line at the JTI factor in Senta and planning to invest another USD 51 mln in Serbia over the next five years, according to Serbian Prime Minister Ana Brnabic and JTI Vice President Takahiro Kumamoto.
“Today we presented a new investment cycle, which will significantly improve our business in Serbia,” Kumamato said, as cited by the Serbian Development Agency. “Over the next five years, we plan investments worth USD 51 mln to improve production and expand the company’s capacity. Our goal is to create new jobs, double our capacities to increase exports, as well as to modernize the production process itself.”
The new production line inaugurated Dec. 12, was noted as a USD 16 mln investment that will “significantly increase the export potential of the Senta factory. Japan is currently reported to be the largest investor in Serbia
Part of the investment cycle of JTI in Serbia will be dedicated to the construction of a new development center where “unique modular and flexible machines for making and packing cigarettes will be developed.”
Also by the end of the year, and in January 2023 the construction of a modern 1,200 square meter cigarette warehouse, as well as a modern 1,000 square meter tobacco warehouse, will be completed, the agency noted.
For her part, Brnabic noted hat Japanese investments in Serbia over the past 12 years has reached almost USD 300 mln
The ceremony was also attended by Japanese Ambassador to Serbia Takahiko Katsumata’ the head of the Vojvodina provincial government Igor Mirovic; the head of the provincial assembly Istvan Pastor; the president of the Municipality of Senta Rudolf Cegledi: Minister of Agriculture, Forestry and Water Management Jelena Tanaskovic and Serbian Minister of Trade Tomislav Momirovic.
Photo credit: Prime Minister Ana Brnabic, courtesy of the Serbian Development Agency/photo by TANJUG / SLOBODAN MILJEVIC.