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Chinese-owned steel plant “an image of powerful Serbia” - Serbia Business

Chinese-owned steel plant “an image of powerful Serbia”

, News

The Hesteel steel mill in Smederevo plans to produce 2mn tons of steel next year, which will boost Serbia’s GDP by 1 pct, probably more, says Aleksandar Vucic.

The Serbian PM made the comment as he met with the plant’s workers and management on Thursday.

“This is an image of a very beautiful, powerful Serbia, which shows we can work differently and better,” said Vucic, who took a tour of the plant with Hesteel President Yu Yong and Chinese Ambassador Li Manchang.

The Serbian government and the Hesteel Group signed in April a 46 mln euro sales and purchase agreement on the company’s acquisition of the plant.

The collaboration with Hesteel is the “deal of the decade, which brought a turnaround in the Serbian economy,” Vucic said.

Vucic noted he was proud that a visa-free regime with China was taking effect on January 1.