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Serbia’s government has signed a memorandum of understanding with German food industry giant Toennies Lebensmittel.
Clemens Toennies, head of the Toennies meat group, announced that his company would soon build the first 5 of a total of 20 pig farms in the country, according to Serbian daily Dnevnik, as cited by the Bulgarian Telegraph Agency.
Toennies, whose company is one of the largest meat processors in Europe, announced at a press conference after the signing ceremony that Serbia had been quick to create conditions for investment.
Prime Minister Aleksandar Vucic said that the document was very important for Serbia because the German company planned to create 20 farms in which it would grow 3 million pigs, a quantity surpassing Serbia’s entire pig farming business.
He made clear that the investment was expected to lead to a substantial increase in the export of agricultural production, higher meat quality and lower unemployment.
Vucic said that the contract with Toennies would be signed in a month, adding that the first five farms would be built in the Banat region in the area of Pancevo, Vrsac, Zitiste, Zrenjanin and Kikinda, and would start functioning in summer.
Serbia's Prime Minister informed that the investment of the German company in its Serbian unit amounted to around EUR 420 M.
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