Russian company to submit plan for steel mill in February

Serbian Finance and Economy Minister Mlađan Dinkić says Russia's Uralvagonzavod (UVZ) will submit an investment plan for Smederevo steel mill in February.

Izvor: Beta

Saturday, 12.01.2013.

15:16

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MOSCOW Serbian Finance and Economy Minister Mladjan Dinkic says Russia's Uralvagonzavod (UVZ) will submit an investment plan for Smederevo steel mill in February. “Uralvagonzavod has completed a technical-technological analysis for potential in Zelezara Smederevo steel mill,” the minister said in Moscow on Saturday. Russian company to submit plan for steel mill in February “In the first half of February their leadership will come to Belgrade and propose a model for further cooperation aimed at starting up the steel mill,” he added. Dinkic said that the Russian company had told him that a lot of money would have to be invested in the Smederevo-based steel mill, “primarily in more profitable products, such as tinplates”. He added that the UVZ had already made a plan to start up the mill’s blast furnaces. URZ Financial Director Ruslan Kondrashov said that the company would propose one of the two options for the Smederevo steel mill by the end of February at the latest. “There are two variants – the first one is to start the project together with the Serbian government and the second to independently purchase 100 percent of the company’s shares,” he explained. Dinkic in Moscow also met with VTB bank Board of Directors President Andrei Kostov and discussed possibilities for financing of projects in Serbia. “We agreed that they will finance these large investments that are necessary in order for the Smederevo Zelezara to work, not only at full capacity but profitably as well. We also talked about other projects in Serbia but our priority, the biggest challenge and the hardest job is to start up the Smederevo steel mill and we are doing our best in order to reach the best possible solution,” the Serbian minister concluded. Mladjan Dinkic (Beta, file) Beta

Russian company to submit plan for steel mill in February

“In the first half of February their leadership will come to Belgrade and propose a model for further cooperation aimed at starting up the steel mill,” he added.

Dinkić said that the Russian company had told him that a lot of money would have to be invested in the Smederevo-based steel mill, “primarily in more profitable products, such as tinplates”. He added that the UVZ had already made a plan to start up the mill’s blast furnaces.

URZ Financial Director Ruslan Kondrashov said that the company would propose one of the two options for the Smederevo steel mill by the end of February at the latest.

“There are two variants – the first one is to start the project together with the Serbian government and the second to independently purchase 100 percent of the company’s shares,” he explained.

Dinkić in Moscow also met with VTB bank Board of Directors President Andrei Kostov and discussed possibilities for financing of projects in Serbia.

“We agreed that they will finance these large investments that are necessary in order for the Smederevo Železara to work, not only at full capacity but profitably as well. We also talked about other projects in Serbia but our priority, the biggest challenge and the hardest job is to start up the Smederevo steel mill and we are doing our best in order to reach the best possible solution,” the Serbian minister concluded.

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