Cocoa and chocolate specialist Barry Callebaut Group signed a Memorandum of Understanding with the Government of Serbia and the City of Novi Sad to construct its first chocolate factory in South-eastern Europe. The state-of-the-art facility will be located in Novi Sad/Serbia, about 90 km northwest of the country’s capital Belgrade, and is planned to have an initial annual production capacity of over 50,000 t. Total investment volume over a period of five years is projected to amount to EUR 50 m. The factory is expected to be operational by 2021. Before the signing, the Barry Callebaut delegation was welcomed by Serbian President Aleksandar Vučić.