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):