Construction of EUR 135 million smelter in Bor starts on June 28

(Bor)

The management of the Mining-Smelter Basin (RTB) Bor announced Monday that the construction of a new smelter would commence on June 28. According to the plan, the smelter should be finished in three years.

The new smelter and a sulfuric acid plant in Bor will be built with the help of a loan granted by the Canadian investment bank EDC.

Thanks to the engagement of the governments of Serbia and Canada, that loan will be granted under very favorable terms. Guarantees will be provided by the Serbian government, while RTB will be repaying it for ten years, with the grace period of three years and the interest rate of 3 percent on annual basis.

This investment, of which value is estimated at 135 million euros, should enable economic prosperity of the whole region and creation of better ecological conditions in that area.