The MoUs were signed during the One China, One Serbia Investment Forum, part of the 23rd China International Investment and Trade Fair. / srbija.gov.rs
Sept 10, 2023. Posted by Balkan
Periscope - Hellas
China’s Zijin Mining has confirmed its intention to invest an additional
$3.8bn in Serbia, according to a memorandum of understanding (MoU) signed
between the company and the Serbian government.
The investment will be made to develop the Lower Zone of the Cukaru Peki Mine, and is expected to place Serbia among the largest European copper and gold producers.
Zijin and the Serbian government also signed a second MoU on the
development of the 300 MW solar power plant project, which will meet the
company’s needs for electricity. The power plant is worth $200mn, a government
statement said.
“Thanks to today's memorandum, which includes $3.8bn of new investments,
Serbia will rank among the largest European copper producers and leading gold
producers, but also create the possibility for additional investments,” said
Minister of Mining and Energy Dubravka Djedovic Handanovic.
Zijin already employs around 7,700 people in Serbia.
As well as the Cukaru Peki Mine, it is also the owner of the RTB Bor copper
mining and smelting complex.
The MoUs were signed during the One China, One Serbia Investment Forum,
part of the 23rd China International Investment and Trade Fair. The investment
was expected as plans to sign the agreement had already been reported over the
summer.
Djedovic invited other companies from China to invest in Serbia, where
foreign direct investments (FDI) more than quadrupled between 2012 and 2022, to
$4.4bn.
Mining is an important sector in Serbia. It is expected to have grown by
22% year on year in 2022, according to the government.
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