Chinese buy loss-making Serbian steel plant
Автор: AP Archive
Загружено: 2016-11-16
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(18 Apr 2016) Chinese company Hebei Iron and Steel Group has signed an agreement to buy a loss-making Serbian steel plant that was previously owned by Pittsburgh-based US Steel.
HBIS signed the 46 million-euro (52 million US dollar) agreement on Monday with the Serbian government, which had struggled for years to find a buyer.
The ceremony was broadcast live on Serbian state television, days ahead of an early general vote.
Prime Minister Aleksandar Vucic says the deal is important for the impoverished Balkan nation, which is desperate for foreign investment.
The factory employs some 5,000 workers.
US Steel ran the company from 2002-2012, before reselling it to the Serbian state for a symbolic price of 1 US dollar due to losses.
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