Hesteel to invest 120 mln USD in Smederevo Steel Mill in 2017

China’s Hesteel Group will invest 120 mln dollars in the Smederevo steel mill in 2017, the group’s President Yu Yong said after meeting with Serbian Minister of Economy Goran Knezevic on Wednesday.

The funds will be directly invested  in reconstruction and acquisition of equipment and technology to improve operation even further, announced Yong.

Yong, who took a tour of the steel mill and spoke to the management and employees, conveyed to Knezevic Hesteel’s satisfaction with the plant’s work to date, as well as the plan for next year, the Ministry of Economy said in a statement.

Hesteel acquired the mill in July this year.

The investment has revived an entire region of Serbia, giving it an impetus to become an even better business and contributing to Serbia’s excellent macroeconomic results, Knezevic said.

(Tanjug, 14.12.2016)


A small favour

Since 2013, Serbian Monitor has been offering to its readers carefully selected news about the Republic of Serbia, as a daily commitment stemming from the genuine desire to offer undistorted information about a country that is too often a victim of prejudice and superficiality. From November 2016, this service is available in English and Italian with a growing number of original articles with a goal of providing a complete picture of this Balkan country's economy, politics, culture and society. Our archive is completely free of charge, available to anyone who wants to get to know the country, to study its specific aspects, or to be constantly updated about it. This project will only be able to continue with the help of readers on whom we are calling to provide a small financial support so that we can continue supplying an increasingly expanding pool of information and original contributions. If you appreciate our work, please click on the button below.

This post is also available in: Italiano

Share this post

Leave a Reply

Your email address will not be published. Required fields are marked *

scroll to top