The state of Serbia has signed a contract with the German company Rauch to award almost 2.2 million euros in investment subsidies that will result in the employment of 30 people by the end of 2021.
According to the contract, the incentive is given for the construction of the production hall and the installation of a new line for the production of juice, as well as the expansion of capacity at the concentrate factory in Koceljeva.
The state will allocate exactly 2.191.339,5 euros from the budget, which is over one fifth of the money that Rauch has to invest, or 21 percent. The subsidy will be disbursed in three installments during 2020, 2021 and 2022.
Rauch pledged to invest fixed assets worth 10.347.050 euros by the end of 2021, of which at least 25 percent must be from own funds and not from state aid.
Rauch also pledged to increase the total number of permanent employees by at least 30 by the end of 2021 and not to reduce the total number of employees below 248 during the five years following the completion of the investment project.
The basic salary of new employees must be at least 20 percent higher than the minimum wage, Nova Ekonomija reports.
