The investment created about 300 new jobs at the facility, the Serbian government said in a statement.

Serbian Prime Minister Aleksandar Vucic was present at the official launching ceremony. During the ceremony, the prime minister said that, with the aim to support the Austrian company’s investment in the Serbian meat industry, the country’s government has provided investment aid of some €5.8m to Gierlinger Holding.

The plant in Sremska Mitrovica was formerly operated by Serbian meat industry player Mitros, which filed for insolvency and ceased production in Sremska Mitrovica.

Gierlinger Holding purchased the company’s assets last January.

Mr Vucic said that, following the relaunch, the meat processor aims to deliver its products to retailers around May 20, 2016. In addition to this, the Serbian government will support the company in its efforts to export its processed meat products to China and Russia.

According to earlier reports by local daily Vecernje Novosti, the facility is to process about 1,000 head per week. While the Serbian plant specialises in processing pork meat, it also processes poultry and beef products.

Prior to the dissolution of Yugoslavia, Mitros had been a leading meat processor in its domestic market, and the company's workforce comprised more than 1,250 employees, according to the Serbian prime minister. The meat processing facility is currently fitted with a total floorspace of some 39,000 square metres.

Mitros was acquired in 2005 by local firm Swiss Lion which is owned by Serbian businessman Rodoljub Draskovic. In 2009, the plant in Sremska Mitrovica became insolvent and, as a result, its workforce was laid off. Three years later, the company was put up for sale by its owner.

Sremska Mitrovica is located in Serbia’s Vojvodina province, about 75 km from the country’s capital Belgrade.