The Municipality of Kula has signed a memorandum of understanding with the US-based company Attis Industries.

The investor operates in the production of alternative fuels, and it wants to build a production facility in Kula.

The president of the municipality of Kula, Damjan Miljanic, says that the company’s interest has now been confirmed with the signing of the memorandum.

“The importance of this investment for our municipality and the entire country is obvious. The whole arrangement involved the Ministry of Agriculture, the local self-government and the Development Agency of Vojvodina, as a partner organization which will be important to the realization of all investments in the future as well,” Miljanic said.

Vanessa Beghetto, the representative of Attis, said that several locations in Europe had been considered and that the company finally decided on Serbia, as an economically developed country, suitable for the planned investment. She added that the plan was to employ around 160 people on sorting of raw materials, and that it would take approximately 18 months to build the plant.

Also, the company plans to invest between 60 and 80 million euro over the period of 24 months from the moment of obtaining all the necessary permits. The average salary at the factory should be around EUR 1,500. The technology that Attis uses is 100% environmentally friendly and has no negative impact on the environment, the official website of the municipality of Kula says.

Source: Serbian Monitor