Mayor Branislav Nedimović specified to Tanjug news agency that 150 jobs will be created in the new enterprise.
Last month, Trans-Oil announced in a press release that its Serbian subsidiary Amelo had signed an agreement for the construction of a starch processing plant in Sremska Mitrovica with Chinese starch processing equipment manufacturer Myande Group.
Trans-Oil said it will invest €35 million in the plant, which will process 250,000 metric tons of corn per year, producing native starch, modified starch and corn syrup to meet growing demand in Central and Southern Europe.
Construction will begin in May this year and will be completed within 18-20 months. The project is being financed through a combination of equity capital from the company and local banking syndicates in Serbia.
“This project marks an important milestone in our growth strategy. Through our partnership with Myande, a global leader in starch technology, we are bringing state-of-the-art corn starch production to the Balkans, guaranteeing superior product quality and efficiency,” said Vazha Jashi, CEO of Trans-Oil Group.
Trans-Oil Group is a vertically integrated agro-industrial company with operations in grain trading, oilseed processing and vegetable oil production in Moldova, Romania and Serbia.
