Signature worth millions – Town Hall Zrenjanin and American-Hungarian consortium signed contract on construction of bioethanol factory

The contract on construction of factory of bioethanol, starch-free fodder and mineral fertilizer was signed in Zrenjanin on September 25.

It is the biggest Serbian "greenfield" investment worth 380m EUR. The partner to the Municipality of Zrenjanin in this important business is American-Hungarian concortium, whereas the program carrier is the consortium made of eight specialized companies from Budapest, with which the Contract on cooperation was signed.

(Both ecological and profitable)

The entire project, as the Mayor of Zrenjanin Goran Knežević announced, will be financially supported by US company "CLSM" from Chicago and US "Commerce bank", which have already sent the letters of intent.

- The factory will be built on the complex of 60 ha of land, in Jugoistok zone, along the road to Belgrade. The direct effects of that investment can be expressed through employment of 250 workers in the direct production and hiring of about 1,000 workers for the auxiliary activities that depend on the production of bioethanol. Zrenjanin will obtain another two strategically important investments - the port on the Begej canal and railway junction, which will enable easier distribution of products - Knežević points out.

According to the data provided by the administration in Zrenjanin, the projected capacity of the bioethanol factory is 1.5m tons of cereals, 1m tons of which will be wheat and 500,000 tons will be corn. Expected production is 700,000 tons of bioethanol, about 450,000 tons of fodder and 100,000 tons of fertilizer.