Press Release

Ambassador attends inauguration of production plant of Wai Wai noodles in Ruma (5^th October 2017)

The Indian company CG Food India (CGFI), a subsidiary of Singapore based Cinnovation Group, has invested Euro 9 million in a wholly owned state of art factory to produce instant noodles under the brand name Wai Wai in Ruma, Serbia.

Mrs. Narinder Chauhan, Ambassador of India to Serbia attended the official opening of the plant alongwith H.E. Mr. Aleksandar Vucic, President of Serbia on 05^th October 2017.  The plant has already commenced production of dehydrated instant noodles with more than 80% of the local raw material.

The factory spread over 6300 sq meters has a monthly production capacity of 3 million packets in one shift operation. The company plans to employ 400 individuals by 2020 and eventually more than 1,200 individuals in its Serbian unit. Wai Wai has nine production units in India and the production plant in Ruma, Serbia makes it the 17^th manufacturing unit of Wai Wai globally. Wai Wai products will be exported to 30 nations taking advantage of Serbia’s FTAs with EU, Russia, Turkey, Belarus, Kazakhstan, Azerbaijan, European Union, CEFTA etc.

Other Indian investments in Serbia include USD 20 million IT Park in Indjija by Embassy Group; Indian tractor manufacturers TAFE, Mahindra, Sonalika have invested in export/assembly of Indian tractors in Serbia with local partners; Indian pharma companies Himalaya Herbal, Panacea Biotech, Maharishi Ayurveda, Ranbaxy Pharmaceuticals, etc. are present through Serbian representatives. In addition, two UAE-based Indian companies have invested in Serbia: Excel Industries have invested USD 1.12 million in Blok Signal factory at Nis for manufacturing railway equipment and garbage disposal containers; Mulk Holdings, also based in UAE, has invested USD 20 million in an aluminum panel manufacturing facility “Alubond Europe” based in the town Banatski Karlovac. 

Of late, Serbia has undertaken important steps to implement the reforms necessary for attracting foreign investors making it one of the premier investment locations in CEE.

Place: Belgrade
Date: October 06, 2017