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China's Hebei Iron Steel Group inks deal with Serbian government

BEIJING
2015-11-27 14:47

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China's Hebei Iron and Steel Group, CIC Capital, and the Serbian government signed a cooperation agreement about the Serbia's Zelezara Smederevo steel plant on Thursday.

Hebei Iron and Steel Group said that it will make use of its technological advantages, mature steel plant operation and management mode, and powerful capability of mastering the international market to promote development of the steel plant.

CIC Capital, a direct investment arm of China Investment Corporation (CIC), said it is willing to work with the Hebei Iron and Steel Group to jointly explore an effective business model for cross-border investment to realize a win-win result.

Zelezara Smederevo steel plant is an only steel enterprise wholly owned by the Serbian government in Serbia and has an annual capacity of producing 2.2 million metric tons (tonnes) of steel products.

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