-
US company Harsco is to invest €20 million with Clarendon, in a Copper plant in Serbia
US company Harsco is to invest €20 million, in association with the London-based company Clarendon, in the construction of a modern plant in Bor, which will be extracting copper from goaf, the waste material deposited during century-long mining works in this area. Mitch Bulajic, CEO of Clarendon International, confirmed for Novosti daily. "An agreement on the construction of a plant that will employ 60 workers should be inked in early 2012, says Bulajic. "Depending on the results, the investment will later reach the value of €50 million and maybe even grow to as much as €100 million. "We expect to be able to produce about 3,000 tonnes of copper per year for a start. Of course, the production capacity will grow in time. Ecology represents a special aspect since our production will be utilizing the waste material depositing on the grounds of RTB Bor for almost a century," Bulajic explains.U.S. Harsco is one of the world's leading companies engaged in, among the rest, alternative ways of producing metals. The company's biggest partner in Serbia is Smederevo-based U.S. Steel. Harsco achieved a turnover of USD 2.5 billion in the first nine months of this year. Source; SIEPA
-
Serbia's talks with IMF start next week
Head of Serbia's Office of Media Relations Milivoje Mihajlovic announced that talks between government representatives and an IMF delegation, which has arrived in Belgrade, will commence on 6 February.
Mihajlovic told a press conference following the government session that he hopes a mutually satisfying solution will be reached at the meeting, which representatives of the National Bank of Serbia will also attend.
Source: Serbian Government
-
Serbia has grown into one of the premier investment locations in Central and Eastern Europe
Since the onset of economic reforms, Serbia has grown into one of the premier investment locations in Central and Eastern Europe. A list of leading foreign investors is topped by world-class companies and banks such as FIAT, Telenor, Stada, US Steel, Michelin, Gazprom, Siemens, Intesa Sanpaolo and many others.Serbia's strong FDI track-record is substantiated by internationally recognized awards for local Greenfield investors. Between 2004 and 2006, Greenfield projects in Serbia were awarded by OECD as the largest investments of this type in South East Europe. The first Award was presented to Ball Packaging Europe (headquartered in USA), followed by METRO Cash & Carry (Germany), and Israeli Africa-Israel Corporation/Tidhar Group for their Airport City Belgrade real estate project.FDI BY COUNTRIESIn terms of the country structure, investors from the European Union top the list, accounting for about 70% of the total FDI influx. The leading spot on the country list is held by Austria, followed by Greece, Norway, the Netherlands and Germany, while major investor countries also include Italy, Slovenia, the Russian Federation, France and Luxembourg. The actual amount of U.S. investment is significantly higher than the official figure due to their companies investing primarily through European affiliates. This also holds for Belgium, Denmark, Israel, and a number of other countries.FDI BY INDUSTRIESOver the past six years, service sectors have proven to be the most attractive to international investors. Banking and insurance recorded the largest FDI inflow of $5.8 billion. Manufacturing industries held the 2nd spot with $3.9 billion, followed by real estate and renting, transport and telecommunications and trade. Source: SIEPA
-
Azerbaijan loans €300 million to Serbia for Corridor 10 section
Serbia's Minister of Foreign Affairs Vuk Jeremic and Azerbaijani Minister of Economic Development Shahin Mustafayev signed in Baku the Agreement on Azerbaijan’s loan for the construction of a section of Corridor 11 from Ljig to Preljina, worth €300 million.Following the signing of the agreement, Jeremic told Tanjug news agency that this is a significant step towards closer economic linking of Serbia and Azerbaijan.Source: Serbian Government
-
Regionalisation is precondition of Serbia's EU integration
Serbia's Deputy Prime Minister for Economic and Regional Development Verica Kalanovic stated that without regionalisation there can be no essential progress of Serbia or its integration into the EU.Speaking at a two-day international conference “New regional politics and European experiences”, Kalanovic underlined that Serbia is firmly committed to the European path and that it wants to become an EU member, adding that it is fulfilling its obligations in the process.Source: Serbian Government
|
