HBIS Group to bring new Chinese investors to Smederevo industrial zone? – Zelezara produces 1.5 million tons of steel in 2017

The Chinese HBIS Group is planning to bring a larger number of companies from China to Serbia next year, that might open production facilities in the industrial zone in Smederevo, the president of the HBIS Group, Yu Yong, announced.

In his talks with Serbian President Aleksandar Vucic on Sunday, December 17, he pointed out that Zelezara Smederevo had had good results in 2017 and that he expected a growth of production and income in 2018, the press office of the president of Serbia reported.

According to Yu, this year, Zelezara produced 1.5 million tons of steel, its income grew from last year's USD 433 million to USD 750 million, whereas total investments amounted to USD 160 million.

As he said, the production of 1.8 million tons of steel is planned for 2018, with total revenues of a billion dollars.

Vucic pointed out that the Government of Serbia would continue to have good cooperation with Zelezara Smederevo, which now operates under the name of Hesteel Serbia Iron & Steel.

HBIS GROUP Iron & Steel d.o.o. Beograd

Predsedništvo Republike Srbije

HBIS Group

Hesteel Serbia Iron & Steel

Presidency of Serbia

industrial zone in Smederevo

Zelezara Smederevo

Yu Yong

Aleksandar Vucic

steel

production of steel

Chinese investments in Serbia