Serbia and company ‘El Dahra’ from United Arab Emirates have signed a memorandum on capital increase of state-owned company JRB and an agreement on land sale and the building of Pancevo Harbor on the river Danube in Pancevo, town near Belgrade.
Those documents were signed by the Finance and Economy Minister Mladjan Dinkic and general manager of ‘El Dahra’ Hamad Saed Sultan al Shansi and the deputy mayor of Pancevo Sasa Pavlov.
“Memorandum on capital increase of JRB predicts investments of 20 to 40 million euros, which will buy ‘El Dahra’ 30 to 49 percent of shares of that company, which is now state-owned”, said Dinkic.
Minister Dinkic says that the investments are intended to total reconstruction of the fleet and purchase of new ships for JRB.
It has been arranged that ‘El Dahra’ buys 43 acres of land which is owned by the Town of Pancevo, in vicinity of Pancevo Harbor and the artificial fertilizer plant ‘Azotara’, at a price of 10.000 euros per acre, which will make the Harbor biggest in Serbia, explains Dinkic.
According to first estimates, ‘El Dahra’ will invest five million euros in the construction of Pancevo Harbor.