In the China river network 18 new steel group and Serbia government signed the acquisition of J May Dei Trvor iron and steel plant to 46 million euros.

Serbia’s Prime Minister Wu Qiqi attended the signing ceremony. The Cypriot economy minister Zeljko Sertic and River steel chairman Yu Yong signed the agreement.

Vucic said that the two sides after long and difficult negotiations to reach a final agreement, “I am very happy, also very proud Chinese investors to help the state-owned enterprises to reverse the situation facing closure.”

Yu Yong said, to provide employment opportunities to River Steel Group steel plant has about 5000 employees, and through technical transformation, is necessary to develop the advanced production technology and management advantages and strong ability to control the international market, the iron and steel factory to build cooperation with central and Eastern Europe Chinese international capacity model works, become one of Europe’s most competitive iron and steel enterprises.

Chinese Embassy in Serbia on behalf of Lu Yama said that this cooperation is very important, the strategic partnership between the two countries to a new level.

According to reports, the River Steel Group is headquartered in Hebei, Chinese is the largest and the world’s second largest steel enterprise groups, business in more than 100 countries and regions.

J May Dei Trvor steel was founded in 1913 2003, after the collapse of the price of $23 million to the U.S. Steel Corp. In 2012 the United States capital investors, the government of Serbia for $1 to regain the title mills. Since then, the Cypriot government has been looking for new investors.