Money (Pixabay)
The Serbian Ministry of Commerce continued to pay out state subsidies from June 1 to Aug. 12, giving a little over EUR18.1 million to 11 companies carrying out investment projects in Serbia, Nedeljnik.rs reported on Aug. 20.
According to an official Investment Sector report, the payments were made after the companies fulfilled contractual obligations and submitted positive audit reports. The largest individual amount disbursed in the stated period, EUR6.76 million, was paid out on July 8 to Exilir Prahovor for the project of building a plant in the Negotin municipality for the production of monoammonium phosphate.
Next in size were payments to companies in the automotive sector, with Aunde SRB getting a EUR2.82-million tranche on July 25 to expand its production of car seat covers in Jagodina and Leskovac, and Kyungshin Cable Europe receiving EUR2.46 million on June 2 for the production of parts for electric vehicles in Smederevska Palanka. Kolektor Etra of Barajevo received EUR1.34 million, paid on July 1, to build a transformer factory.
A document from the Ministry of Commerce specified that all payments were conducted in line with contractual obligations, Nedeljnik.rs reported.
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