UAE-based BMJ Industries FZ-LLC of the United Arab Emirates has concluded an agreement with the government of Montenegro on the acquisition, recapitalization and management of the New Tobacco Plant AD Podgorica.
Local news outlets report that BMJ Industries FZ-LLC has committed to undertaking the factory’s management and modernization, to repairing existing equipment at the plant and to investing €20m in the construction of a new plant within 12 months. The company has also committed to hire at least 80 people to work in the existing factory and to take on an additional 55 workers for the completed new factory.
