Spaskovski: Chinese to immediately pay US$350 million “in cash”
Immediately after the official takeover of “Rudarsko-topionicarski basen Bor” (RTB), which will be conducted on December 18th, Chinese company Zijin will pay US$350 million in cash, Director-General of RTB Blagoje Spaskovski says.
“Unlike all other partnerships and sales in Serbia, we will have US$350 million in cash. That much Zijin will pay immediately, and additional US$900 million are not paid in cash but invested. Everything goes to the account of RTB Bor that is already opened in Chinese bank, and from there it will be spent only for investments and via strict control,” Spaskovski has said.
At the ceremony where members of the Board of Directors and RTB Assembly were presented with letters of appreciation for their cooperation and contribution, Spaskovski has reminded that Chinese management will take over mines and smelter on December 18th.
“At the time the official handover will be held in Belgrade. General, financial and technical manager will arrive from China, as well as executive director. Our entire structure, related to coordination and process control, will remain, until Chinese partner does not determine whether they should also appoint their executors here.”
Spaskovski has evaluated that, it they estimate that domestic staff is doing a good job, including work organization, Chinese will not bring more than 16 other own managers.
According to official statement by Bor based mining giant, he has said that, regarding strategic partnership, this is a top-notch company that has production revenues measured in billions of dollars, has copper, gold and experience in oversea operations.
Izvor: Novosti, Tanjug