The only company expected to bid for the Železara Smederevo Steelworks factory based in Smederevo, Serbia is the Chinese company Hebei Iron and Steel. The tender is due to close at the end of March. The Chinese company looks set to buy the factory, but without its €470m debt, which will be taken over by the Bosnian government.
Until 2012 Železara Smederevo was led by the American company US Steel. After unsuccessful business in Serbia, the American company left the country and the state took back control of the factory. Since then, the Serbian government has been looking for a buyer for the facility. Hebei Iron and Steel officials visited the factory last year and declared a willingness to invest over €300m in the plant.
