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Toyo given free land as part of 364 million euro Serbia tyre factory investment

Author: Chris Anthony Comments: 0
In order to execute its plans, Toyo is establishing a 100 per cent owned subsidiary in Belgrade, Serbia (pictured) in September 2019

The Serbian state is set to give Japanese tyre manufacturer Toyo 637,455 square metres of land worth roughly 3 million euros for its newest factory. According to a Serbian State Aid Control Commission decision, the countries Tax Administration calculated that – based on a land valuation of 5 euros per square metre, Toyo will have to employ 523 workers indefinitely by 2023.

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