Serbia Close to Agreement to Privatise Serbia's Smederevo Steel Mill

An agreement with a Chinese investor to privatise Serbia's Smederevo steel mill can be expected to be signed in April, says Bojan Bojkovic, a member of the mill's supervisory board.

"We are set to sign an agreement that will save not only the steel mill, but also the Serbian economy. The magnitude of the investment is nearly USD 1 billion," Bojkovic told Tanjug on Sunday.

A tender will most likely be issued on February 29 and it will last about a month, after which all bids will be reviewed and negotiations held with the best bidder over 15 to 20 days, Bojkovic explained.

"The signing of the agreement can be expected to take place by the end of April. Considering the progress of the negotiations with potential investors, I am absolutely confident that the signing will take place and that the issue of the steel mill will be solved," Bojkovic noted reports Tanjug.

(balkans.com)