– The agreement with Canadian development bank EDC for construction of a new smelter and sulfuric acid factory in Bor will be signed on June 10 – Mlađan Dinkić, the Minister of Economy, said yesterday (May 29, 2010) in Bor.
– The preparations for signing of the agreement with Canadian development bank EDC are underway, and it is expected to be signed on June 10, which will mark the beginning of realization of the project for construction of a new smelter and sulfuric acid factory. Over the last 20 days, the Government of Serbia has been intensively working on agreeing all the details concerning that agreement – said Dinkić.
Let us remind that Canadian development bank EDC will grant the loan of EUR 135m to Mining-Smelter Basin (RTB) Bor for construction of a new smelter and sulfuric acid factory, the guarantees for which will be provided by the Serbian Government.
According to Dinkić, the agreement, which was supposed to be signed prior to May20, will be signed on June 10. Construction of a new smelter and sulfuric acid factory should start by the end of the year, while the final deadline for their completion is 2013. The loan for RTB’s new smelter will be repaid during ten years, with the grace period of three years and the interest rate of 2.9%. At the recommendation of Canadian company SNC Lavalin, the author of the feasibility study, Finnish corporation Ototek will be hired to implement the whole project.