Vujovic said that there are no changes in the contract in relation to the offer submitted by the Arabs.
“We worked out a few minor things, but the promised investment of 20 million euros remains the focal point of the contract. Production in the first year of operation will be organized at the existing location. Right after the contract is signed, upgrading of the equipment will begin and during this time, there can be no production. Workers will remain with the Department of employment until this renovation of equipment is completed; however, 20 workers will be hired right away to work on the overhauling”, said Vujovic.
The overhaul should last 60 days, as defined in the agreement.
“Certain parts of equipment may be finished earlies, so it’s possible that production on those machines starts before this deadline. However, the complete overhaul may take slightly longer than two months. We expect efforts will be made to finish the overhaul as soon as possible, since it is investor’s interest to begin production. After the overhaul, employment of 80 workers is expected in the first year”, said Vujovic.
He said it is investor’s decision to appoint a director.
“They should appoint two members of the Board of Directors, which then elect the chief executive. It will all be done immediately after signing the contract. Unofficially, it is said it could be the former Director of Duvanski Kombinat (Tobacco Plant), Slavoljub Vukasinovic, but this is only off the record”, said Vujovic.
