Aleksandar Vucic (Photo: Beta / Emil Vas)
Japan’s tire manufacturer Toyo Tire Corporation would start building a plant in Indjija in the next few months, President Aleksandar Vucic told a special news conference on July 30.
The project is worth EUR390 million and will span 60 hectares.
“This investment is of huge importance for Serbia and is worth EUR390 million in the first phase,” Vucic told reporters.
Vucic said that this would be first Toyo Tires’ plant in Europe, stressing that the Japanese company had selected Serbia over Poland.
He also said that Toyo Tires produced top quality tires and paid salaries “much higher than the average income.”
Construction works on the plant in Serbia, which will produce radial tires for passenger vehicles and light trucks, are set to start in May 2020, with commissioning scheduled for January 2022, according to a release on Toyo Tires’ website. The plant should reach an annual output of five million tires by the summer of 2023 and is expected to create 500 new jobs, according to the release.
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