Hesteel to invest USD 120 million in Zelezara Smederevo in 2017

The Hesteel Group will invest USD 120 million in Zelezara Smederevo in 2017, stated the president of the group, Yu Yong, today, following the talk with Minister of Economy Goran Knezevic.

– Hesteel will directly invest USD 120 million in the renovation and the procurement of equipment and technology in order to enhance the operations even further – Yong announced and pointed out that around 200 experts and technicians had visited Hesteel's facilities in the previous six months and that they had considerably improved the production.

Yong, who visited Zelezara and talked to the management and the employees, expressed his satisfaction with the job done so far to the ministry and presented the plan for the next year, the Ministry of Economy reported.

Minister Knezevic emphasized that the investment had revived an entire area in Serbia and provided it with an incentive to operate even better. According to him, this has contributed to the fact that Serbia has great macroeconomic results, as pointed out by the most important international institutions as well.

– Serbia is a stable country with a clear plan for the future – Knezevic pointed out and emphasized that investors needed to take advantage of that, as preconditions had been created for such projects in free zones as well.

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

Železara Smederevo d.o.o.

Ministarstvo privrede Republike Srbije

Hesteel

Zelezara Smederevo

Yu Yong

Goran Knezevic

investments in Zelezara Smederevo