Toyo Tires is planning to build a new factory in Indjija, northern Serbia. This will be the Japanese tire producer’s first European plant. The company will invest €390m in the project and intends to hire 523 people during the first phase. The factory will go up on a 60 ha parcel of land. Construction is expected to break ground in the next few months. “The investment of almost €400m in the first phase is 12 to 13 percent of our total investments and more than the annual level of Bosnia and Herzegovina, Northern Macedonia or Montenegro,” said Serbian President Aleksandar Vucic.
