“For us the sky is the limit”: HBIS invests EUR 120 million in Smederevo ironworks
The Chinese company HBIS Group Serbia, which owns Smederevo based ironworks, has commenced construction of the new iron ore agglomeration line today by laying the foundation stone, in which it will invest a total of USD80 million. The new investment represents the most significant project and an ecological plant that almost fully eliminates harmful gases and increases the efficiency and productivity of ironworks. Additional investments in environmental protection and raising energy efficiency of ironworks are planned as well, in the amount of USD 40 million. Serbian President Alekandar Vucic attended laying of the foundation stone for the ecological facility, saying that Smederevo ironworks survived thanks to the Chinese company and efforts of the Chinese leadership. “From a plant that generated losses and problems, ironworks became the biggest exporter,” he said, expressing expectations that owner of the ironworks will continue to invest in the plant, thus increasing its exports. “If we work together, for us only sky is the limit”. He stated that last year 296 people were employed in that plant, which has more than 5,000 employees, and 501 workers who had fixed-term contracts received permanent placement.