Linglong to bring two more Chinese investors to Zrenjanin

China's Shandong Linglong plans to bring two more Chinese investors to the Serbian city of Zrenjanin where it has started building a tyre factory, Serbia's president Aleksandar Vucic said.

The two Chinese companies will invest a total of 140 million euro ($157.4 million) and will open 420 jobs in Zrenjanin, Vucic said during the groundbreaking ceremony for Shandong Linglong's factory on Saturday, according to a statement issued by the Zrenjanin city government.

Last month, the mayor of Zrenjanin, Cedomir Janjic, said two suppliers of Shandong Linglong plan to open factories in the city in northern Serbia.

The Zrenjanin city government has provided a 40-hectare land plot for the construction of a zinc-oxide supplier of Linglong and 30 hectares to another Chinese company, Janjic said in a video file posted on the website of Serbian news agency Tanjug. He did not give the name of the second company.

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Last month, the city government said Shandong Linglong plans to build the factory in three phases, with the last one to be completed in March 2025.

In September, Vucic said Shandong Linglong was in talks with Volkswagen and Renault for the sale of tyres produced at the factory as of 2021.