The new production facility has been set up in eight months in the premises of insolvent state-owned company Eksportekst. The Serbian government invested 200 million dinars ($2 million/€1.7 million) in renovation, the Serbian economy ministry said.
Currently, LebanTeks has employed 300 people at the facility, and it plans to increase the number of employees to 650 in the next two years, Serbian president Aleksandar Vucic said while inaugurating the yarn manufacturing unit.
Vucic said the new facility will export around €11 million worth of goods to Turkey, Russia and western Europe in 2018.
The LebanTeks unit is the first factory opened in Lebane in the last 30 years, according to Serbian economy ministry. (RKS)
Fibre2Fashion News Desk – India