President receives UralVagonZavod delegation

President Tomislav Nikolić has met with a delegation of UralVagonZavod (UVZ) to discuss the company's interest in further business operations in Serbia.

Izvor: Tanjug

Wednesday, 02.04.2014.

15:32

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President receives UralVagonZavod delegation

The UVZ delegation was led by CEO Oleg Viktorovich Sienko, who confirmed to Nikolić that the Russian company was " very interested in doing business in Serbia."

They are already engaged in works relating to the construction of the South Stream gas pipeline, and are now considering doing business with the Smederevo-based steel mill, based on the talks between presidents Tomislav Nikolić and Vladimir Putin, he said.

UVZ made an assessment that doing business with the steel mill in Smederevo would be much more cost-effective than investment in the metallurgical sector in Belgium and France, the president's press office stated.

Nikolić told the UVZ delegation that he is glad that they are planning to do business in Serbia that is becoming a country that offers good prospects to foreign partners, he underlined.

The media signaled in October 2012 that UVZ, which is among the 100 largest military- industrial complexes in the world, could purchase the steel mill.

The company's officials said then that there were two options- to set out on the project together with the Serbian government or to buy 100 percent of the steel mill's shares.

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