JTI opens new production line in Senta, plans to invest 51 mln dollars

SENTA - Japan Tobacco International opened a new production line at its plant in Senta, northern Serbia, on Monday and announced a new five-year investment cycle in Serbia worth 51 mln dollars.

The new production line alone is worth 16 mln dollars.

The opening ceremony was also attended by Serbian PM Ana Brnabic.

When a Japanese investor comes to a country to invest in it, other investors from around the world also feel comfortable about investing in that country, Brnabic said.

That is why Japanese investments are so important in these difficult and challenging times, she noted.

She said Japanese investments in Serbia in the past 12 years totalled almost 300 mln dollars.

"Japanese investors are known around the world as the most cautious and the most conservative investors who are well-informed when investing somewhere and who know why they are investing there and what the business environment is like.

They know it is not a country where there is systemic corruption and that it is a country with efficient administration and one that additionally invests time, energy and money to strengthen the business environment," she said, noting that the number of Japanese investors in Serbia was growing.

JTI has been operating in Serbia since 2006, when it bought the Senta Tobacco Industry, and is the only foreign company that is purchasing locally-grown tobacco.

The new production line will double the capacity of the Senta plant and boost its export potential.

The ceremony was also attended by JTI Vice President Takahiro Kumamoto, Japanese Ambassador to Serbia Takahiko Katsumata, the head of the Vojvodina provincial government Igor Mirovic, the head of the provincial assembly Istvan Pastor and Serbian Minister of Trade Tomislav Momirovic.