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Serbia signs steel mill privatisation with Chinese He Steel
Smederevo-based factory sold for Eur 46 mln
18 April, 20:14
(ANSA) - TRIESTE - The Serbian Government signed a contract for the sale of the Smederevo-based steel mill, Zelezara, with the Chinese He Steel Group on Monday, Tanjug agency reported.
The company acquired all 98 property units of the plant for EUR 46 million. The ceremony was attended by Serbian Prime Minister Aleksandar Vucic, who announced a possible visit of the Chinese president, Xi Jinping, in June. He Steel, Asia's biggest steel producer, plans to invest Eur 300 million into Zelezara, while keeping all of its 5,000 workers. The He Steel president, Ju Jong said on his part that the company aims to modernise Zelezara and transform it "into the most competitive steel mill in Europe". (ANSA).
