BELGRADE (Serbia), April 3 (SeeNews) – Serbia’s government plans to sign a contract for the sale of insolvent tractor manufacturer Industrija Masina i Traktora (IMT) to Indian company Tafe for 66.8 million dinars ($697,000/565,000 euro), Serbian prime minister Ana Brnabic has said.
The contract will be signed in the coming three days and the acquisition of IMT will open the way for restarting the production of tractors in Serbia, Brnabic said in a statement on Monday.
Tafe intends to produce tractors under the IMT brand, with 50% of their parts to be manufactured in Serbia, the vice president of the Indian company, Kamal Ahuja, said in a video file posted on the website of Serbian news agency Tanjug on Monday.
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