Georgia-based Attis Industries plans to invest up to €80 million (£72 million) in a new biofuels factory in northern Serbia.
The Kula city government has said the new plant could be operational in two years after the green light for the project was given.
Vanessa Bageto, a representative of Attis Industries, signed a memorandum of understanding with the city government for the project.
The US holding company plans to hire 160 employees at the factory, according to reports from SeeNews.
Attis Industries is involved in the renewable fuel, biobased products and healthcare industries. The company operates a factory for the production of biofuel from corn in Fulton, New York.
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