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Serbia: China's Zijin interested in taking over RTB Bor

Talks with Vucic in Belgrade. Towards Xi's second visit

13 March, 13:25
(ANSA) - BELGRADE - China's mining company Zijin expressed interest in starting a partnership with the Serbian company RTB Bor, aiming to invest several hundred million dollars. News emerged from a meeting held in Belgrade between representatives of Zijin and Serbia's president Aleksandar Vucic. The Chinese group, said Vucic, will participate in the a tender process relating to the acquisition of RTB Bor, whose terms will be announced by the government by the middle of this year. Chinese representatives said they have a clear plan for the development of the mining company RTB Bor and the whole region, by investing several hundred million dollars to modernise and restructure the company, which will be reorganised in accordance with international standards. Zijin is one of the largest producers of gold in China, and among the world's largest producers of copper and zinc. Serbia's president and government rely heavily on the contribution of Chinese capital to restructure large state-owned companies which are facing a crisis. Two years ago, Chinese steel group HBIS took over the great Smederevo steel plant, abandoned by US Steel. After a triumphant visit to Belgrade in June 2016, China's president Xi Jinping accepted a second invitation from Vucic to visit Serbia. (ANSA).

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