The Serbian government has signed agreements with two Chinese firms that will enable new investments in the energy sector, with a total value of 2.7 billion euros.
A 2.4-billion-euro framework agreement was signed with China Energy International Group for the construction of a plant for processing oil and oil derivatives in the northern city of Smederevo, the government said in a press release.
The new plant will produce oil derivatives under the highest technological, ecological and product quality standards of the EU. It will employ 700 people.
Serbia also signed a Memorandum of Understanding with Hunan Rich Photovoltaic Science and Technology on investments in renewable energy sources.
The MoU envisages investment in a 1 GW solar panel factory in the city of Paracin and the construction of a solar photovoltaic power plant with a capacity of 200 MW. It is planned that Hunan Rich Photovoltaic Science and Technology will invest 30 million euros over three years in the PV panel factory. The Chinese company will also invest 280 million euros in the construction of the solar farm.
