Bulgarian battery producer Monbat will supply a credit to its Serbian daughter company of 1 million euro at eight per cent annual interest, Dnevnik daily said. The debt would be used for the acquisition and putting into operation of industrial equipment and be repaid before the end of 2009.

The daughter company in Serbia was specialised in recycling old batteries. Investment in the company so far were 3.209 million euro.

The company has bought industrial equipment for recycling batteries and metalurgical ovens. It was expected to go into production in March 2008.

Two million euro have been foreseen as investment in a second daughter company, Monbat Recycling, in Romania, Dnevnik daily said.