Germany's RWE, Continental, Stada Eye Investment Opportunities in Serbia

BELGRADE (Serbia), August 25 (SeeNews) – German utility group RWE, tyre manufacturer Continental and generic drugs producer STADA are all considering investment opportunities in Serbia, the government in Belgrade said.

RWE has said it is considering to draft a feasibility study on the construction of a hydroelectric power plant on the Velika Morava river, Serbia's Economy Minister Mladjan Dinkic said in a statement late on Tuesday following meetings with German government officials and potential investors in Berlin.

Continental has offered to invest in production cooperation with rubber factory Vulkan, based in Nis, in southern Serbia. The project is expected to create 850 jobs when completed, Dinkic said.

STADA has said it planned to boost production at its Serbian drug maker Hemofarm and upgrade its research centre in Vrsac, in the north-west, Dinkic added.

Germany was Serbia's largest trade partner last year. Serbia posted a deficit of 775.7 million euro in its trade with Germany in 2009, with exports of 624.3 million euro and imports of 1.4 billion euro, the statement said.

Germany is the fourth largest foreign investor in Serbia after Austria, Greece and Norway with 1.3 billion euro committed so far.

($=0.7912 euro)

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