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Industrial zone in Valjevo – City administration bought property of factory Stefil in bankruptcy

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Lokal self-government in Valjevo has bought the property of former furniture and cardboard packaging factory Stefil for 200 million dinars – said Valjevo Assistant Mayor Radivoje Milutinovic.

He said that the money for procurement of over 14 ha of land and production halls at about 30,000 square meters had been provided from the loan granted by business banks.

Milutinovic assessed that it was one of the most important steps in the process of revival of the economy and creation of new jobs in Valjevo because the land well-equipped with infrastructure would be used for construction of an industrial zone.

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The industrial zone, as he said, may be opened in 2011 if the Board of creditors of Stefil in bankruptcy gives its consent for the acquisition.

– The most important phase is ahead of us – construction of “the heart of the industrial zone” in that location, which is a precondition for further expansion alongside Valjevo-Belgrade road and the Bar railway – said Milutinovic.

He pointed out that the absolute priority in selection of potential domestic and foreign investors will be given to the companies with defined product portfolios.

By taking over the property of Stefil, the City administration of Valjevo has created presumptions for applying for the money from the National Investment Plan (NIP) and other funds for equipping of the future industrial zone.

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