Port of Bar and Zijin from Bor to Sign Agreement Worth Over EUR 10 Million – Cooperation with HBIS Group from Smederevo Also Announced

Thanks to the contracts that are to be signed or agreed this week, years of successful operations lie before the Port of Bar, said the executive director, Vladan Vucelic, at the ceremony at Hotel Princess held on the occasion of the 115th anniversary of the laying down of the foundation stone for this company by King Nicholas I.

At the ceremony, it was announced that the pandemic year 2020 had been one of the most successful ones for the biggest Bar collective in its history, both in terms of the reloading volume and the realized financial results.

The agreement that the management of Luka Bar AD is to sign this week with Zijin Bor will bring a profit of over EUR 10 million.

– The agreement defines that, by the end of 2024, we will have dispatched nearly two million tons of copper concentrate from Zijin through the Port of Bar. This is a capital contract, agreed last week at a meeting in Bor. In 2023 and 2024 and in the years to follow, with the business partner from Bor alone, we will realize half the amount of the reloading that the Port realized last year and the years before it – said Vucelic, who also announced the signing of an agreement with HBIS from Smederevo.

– Considering all the realistic announcements, the signing of an agreement which would lead to a considerable increase of the quantities of iron ore transported through out port, but also other products of Zelezara Smederevo, can be expected. All this will lead our company into the zone of stable business operations, which should be used for its further development, because the competition is strong – announced Vucelic, who emphasized that it was imperative to maintain the good relations with the existing partners and to work on a full valorization of the Free Zone and the concession of stone form the Volujica hill.

Zijin

HBIS Smederevo

Vladan Vučelić

operations of Port of Bar

agreement with Zijin

agreement with HBIS group

reloading

reloading of copper

reloading volume

Port of Bar Free Zone

valorization of free zones

concession of stone from the Volujica hill