In a deal worth €46m, Chinese company Hebei Iron & Steel Group acquired a non-productive steel plant located in Smederevo, northeastern Serbia. The Serbian government has been trying to sell the plant for a while.
The sales contract was signed by the Serbian Economy Minister Zeljko Sertic and Ju Jong, the president of Hebei Iron & Steel Group. The Chinese company will officially take over the plant this summer after a new work contract with plant employees is negotiated.
