Serbian President on revival of the Smederevo Steel Plant
For more: On April 29, Chinese President Xi Jinping responded to a letter from Serbian workers at the HBIS Group s Smederevo steel plant, encouraging them to make new contributions to the friendship between China and Serbia. Situated in the city of Smederevo, the mill was once Serbia s largest steel factory, with a history dating back to 1913. In its glory days, the mill was the Pride of Serbia, supplying around 40 percent of the city s fiscal revenue and sustaining nearly a third of its residents. However, during the late 1990s, declining competitiveness and poor management pushed the plant to the verge of closure. In 2016, China s HBIS Group purchased the Smederevo Steel Mill under the Belt and Road Initiative. Serbian President Aleksandar Vucic still remembers how China lent a helping hand and transformed the plant. Subscribe to us on YouTube: Download our APP on Apple Store (iOS): Download our APP on Google Play (Android):
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