PM promises "EUR 30-40 million" to copper smelter

Alekasandar Vučić has told RTB Bor copper mining and smelting complex workers that the government would allocate "EUR 30 to 40 million" to the company.

Source: Tanjug

This will happen "by the end of the year" and will be earmarked "for the completion of works on the smelter and debt rescheduling in the enterprise in restructuring," the prime minister said while touring the plant in eastern Serbia on Friday.

Vučić told the workers that the government "faced options to either sell the RTB or make further efforts to complete the new smelter and in that way ensure the future of the mining basin, and then seek partners for the biggest copper producer in the country, and still keep a majority ownership," Tanjug reported.

“But following this additional investment, serious controls of the way business is done here and serious savings need be enforced, as the government cannot afford throwing money away,” said Vučić.

He added that the country had RSD 15 billion, or EUR 130 million, available for the enterprises in restructuring and it had to take care about the employees of the companies where it was not possible to find a solution similar to the one for the RTB Bor.

Vučić said that it was "the taxpayers’, Serbian citizens’ money, and every penny had to be spent responsibly."

He explained to the workers that the government had to create a more flexible labor market.

“The government will not leave you,” the prime minister said, pointing out that the financial support for the RTB would be completed by the end of the year so that better results could be seen in the first six months of the coming year.

The government still has no decision on a strategic partnership, but the RTB Bor will certainly be majority state-owned, the prime minister said.

Business & Economy

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