BELGRADE (Serbia), February 28 (SeeNews) – China's Tangsteel International Engineering Technology Corporation (TSIC) and Serbia's Delta Inzenjering have established a joint venture company for repair works at the Zelezara Smederevo steel mill owned by China's HBIS Group, Delta Engineering said.
The investment of HBIS in Serbia has become a significant example of Chinese-Serbian cooperation, resulting in a decision by TSIC and Delta Inzenjering to support it by working together, the Serbian company said in a statement on Thursday.
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Delta Inzenjering holds a 49% stake in the capital of the joint venture, named Delta Tang d.o.o. Beograd, while TSIC owns the remainder, according to data from the Serbian trade register.
Delta Inzenjering has designed and supervised the construction of the secondary dedusting plant at Zelezara Smederevo, with a total capacity of 1.1 million cubic metres per hour, and is among the main technological partners of the steel mill, according to data from Delta's corporate website.
HBIS took over the management and ownership of Zelezara Smederevo in July 2016, three months after the government agreed to sell the steel mill to the Chinese group for 46 million euro ($51 million).
($ = 0.906392 euro)
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