Al Dahra, Serbia sign memorandums on cooperation

Serbian Minister of Finance and Economy Mladjan Dinkic signed two memorandums on cooperation with the heads of the Al Dahra company from the United Arab Emirates. Dinkic and Al Dahra Director General Hamad Saeed Sultan Al Shamsi signed the memorandum on capital input for the Yugoslav River Shipping worth EUR 20 to 40 million.Dinkic, Al Shamsi and Pancevo Deputy Mayor Sasa Pavlov signed the second memorandum on the sale of 43 hectares of land in Pancevo for the construction of a river port, with the price at EUR 10,000 per hectare.

Dinkic announced that agreements on both projects would be signed by mid-summer and that an agreement would be signed with the Abu Dhabi Fund for Development in May for the construction of an irrigation system in Serbia.

According to the memorandum, Al Dahra should become a co-owner of the Yugoslav River Shipping with 30 to 40 percent of shares, and the funds which Al Dahra needs to transfer for the stake in the Serbian company will be used for the reconstruction of the river flotilla and procurement of new ships, Dinkic said.

The second memorandum covers the construction of a river port in Pancevo which will be one of the biggest ones in Europe and would be used for export of agricultural product and other goods from Serbia. Dinkic said that as envisaged in the agreements, Al Dahra should formally take over the agricultural complexes in Serbia until mid-summer, as soon as the money is transferred.

The Serbian finance minister announced that Al Dahra wishes to launch construction of the first feed factory at an agricultural complex in Belgrade's district of Surcin by the end of August.

Source: tanjug.rs