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Chinese steel giant announces modernization of its plant in Serbia

Christian Fernsby |
Chinese-invested HBIS Group Serbia Iron and Steel started here the construction of a new sinter plant on Wednesday, aiming for one of Europe's most environmentally friendly and energy efficient industrial plants.

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Serbian President Aleksandar Vucic, Chinese Ambassador to Serbia Chen Bo and the President of HBIS Serbia Wang Yulan joined the groundbreaking ceremony and laid a time-capsule before government ministers and hundreds of employees.

Wang stressed that the new sinter plant is a part of a comprehensive project for energy efficiency and environment protection conducted by the company as a "key project for promoting energy efficiency, reduction of emissions, green production, and intelligent development of HBIS Serbia".

According to Wang, the project worth around 120 million U.S. dollars will make the factory a leading one in Europe, when it comes to energy efficiency.

The reason behind this investment is the aspirations of HBIS Serbia to create a competitive company in European terms, Wang said, thanking for the strong support of Serbian government.

At the ceremony, President Vucic praised the valuable investment, saying that it will bring security to more than 5,000 employees of the factory, and offers a perspective for the future.

HBIS purchased Serbia's formerly state-owned steel-mill in 2016, and brought the near bankrupt steel plant back to life.

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