Factory Vektra Jakić, located in Pljevlja in Montenegro’s north, is a potential user of loans from the Abu Dhabi Fund for Development. Owner Dragan Brković said credit support would enable the launch of pellet production, completing the primary cycle in a lumber system, according to a statement by the Ministry of Agriculture and Rural Development.
“There would be 30 new jobs with the planned investment, and the increase and upgrade in production will open additional possibilities for forest exploitation’s expansion in the area of wood assortment which so far had no market valorization. With the launch of a pellet facility we will increase exports too, because there is a lot of interest for pellet in European Union countries, especially Germany and Italy. I believe we can sell our production five years in advance in those markets,” he said during the visit of Hafsa Al-Ulama, the ambassador of the United Arab Emirates. She underscored there is strong demand for wood products in her country too and that it can be a hub for shipments to other parts of the world.
Brković added the investment, which will complete the needed infrastructure, enables a second phase of development, towards the production of several final products and openings for 180 positions for work in sophisticated technology.