Ministry of defence Republic of Serbia

Contracts signed with representatives of Serbian defence industry for new investment cycle

Representatives of the Ministry of Defence and the Serbian Defence Industry signed contracts today as part of the financial package worth 100 million euros provided by the Republic of Serbia for the second investment cycle, aiming to further strengthen domestic production and overhaul facilities for the purpose of intensive production and modernization of weapons and military equipment for the Serbian Armed Forces’ needs.
  Today’s signing of the contracts at the Material Resources Sector was attended by State Secretary at the Ministry of Defence Mile Jelić, Assistant Minister of Defence for Material Resources Nenad Miloradović, PhD, Assistant Minister of Defence for Finance Katarina Pavičić, representatives of the Ministry of Defence and the Serbian Armed Forces, as well as the representatives of the Serbian defence Industry factories.

Speaking about the importance of the contracts signed, State Secretary Jelić stressed that the new investment cycle would increase the production capacities of the defence industry and enhance operational, combat and functional capabilities of the Serbian Armed Forces.  

According to Assistant Minister for Material Resources Miloradović, these investments will additionally increase the production capacities of the factories and are especially important for the establishment of production lines for the series production of new weapons and military equipment that have been introduced into the armaments of the Serbian Armed Forces.
Over the past ten years, the total value of investments from the Ministry of Defence, the Serbian Defence Industry and PE Yugoimport – SDPR has been 530 million euros.

The amount of 100 million euros is part of the new investment cycle. The greater part of those funds will be invested in companies belonging to the Serbian Defence Industry Group, and the rest of the funds are intended for military technical overhaul institutes within the Ministry of Defence.