VUCIC: Chinese company interested in Zelezara Smederevo

Serbian Prime Minister Aleksandar Vucic said Saturday (3 October 2015) that serious negotiations were underway with a Chinese company interested in Zelezara Smederevo steelworks, adding that an agreement could be reached as early as in November. He pointed out that the aim of the Serbian government was to make it possible for the steelworks in Smederevo to keep all 5,000 workers or so and increase production.
- We've heard that they would invest a lot of money, USD 120 million in galvanization alone, which would result in bigger production and drastic growth of gross domestic product of Serbia - Vucic said at a ceremony occasioned by the opening of access road to Pupin Bridge in Ovca to traffic.
He pointed out that Zelezara Smederevo with a new management - HPK Inzenjering, was struggling in very difficult conditions in the global steel, copper and aluminum market.
He reminded that October 9th should see the ignition of the second blast furnace in the steel plant in Smederevo, which would be of crucial importance for the growth of industrial production and GDP. The prime minister said that the commissioning of the second blast furance would directly cause GDP to grow from 0.3 to 0.4%.
On this occasion, Vucic announced that an agreement to build high-speed rail from Belgrade to Budapest was going to be signed with China in November.

Vlada Republike Srbije

Železara Smederevo d.o.o.

HPK Engineerig B.V. Holland

Serbian government

Aleksandar Vucic

Zelezara Smederevo

gross domestic product

GDP

Pupin Bridge

HPK Inzenjering

blast furnace in Zelezara Smederevo

growth of industrial production

GDP growth