Serbian Minister of Natural Resources, Mining and Spatial Planning Milan Bačević said he expected a strategic partner for the Smederevo Iron Works to be found in mid-2013 in order that the factory should resume its production. He said the potential partners were mostly Russians and Ukranians because they have the same technology as the one installed in the Smederevo Iron Works.

At the moment, the Iron Works represents a big burden for Serbia, said the minister, which is why we are compelled to find a strategic partner as soon as possible – a partner that will recognize their own interest in Smederevo Iron Works. We are planning to employ several thousand people and help in the placement of steel, he said, adding that US company US STEEL had derived great profit from production in the Smederevo Iron Works for several years.

Source: Radio Serbia