Q:
A:
Draft agreement with Esmark next week
Belgrade,
6 February 2015
Minister of Finance Dusan Vujovic said today that negotiations with the US company Esmark on the sale of Smederevo steelworks will be successfully completed, and announced that the draft of the purchase agreement will be signed early next week.
Vujovic told a press conference in the Serbian government that the negotiations were difficult noting that the draft contract will be ready in the next few days.
The Serbian government should approve the document, and then Esmark needs to deliver the required bank guarantee, he said.
He explained that there are about 30 elements that are important for the contract, which relate to the obligations of both parties to guarantee the continuation of production and employment in the steelworks.
Also, he added, it is necessary to evaluate stocks, the value of equipment, spare parts of the plan to resume production.
The Minister said that it is important to meet the requirements of the EU relating to the prohibition of state aid and restructuring plan.
At the same time, Vujovic announced that the Board of Executive Directors of the International Monetary Fund (IMF) will decide on a new precautionary arrangement with Serbia on 23 February in Washington.
The government of Serbia yesterday approved a letter of intent that the Governor of the National Bank of Serbia, the Prime Minister and the Minister of Finance should sign today, he said, noting that it will then be sent to the IMF.
The Serbian government should approve the document, and then Esmark needs to deliver the required bank guarantee, he said.
He explained that there are about 30 elements that are important for the contract, which relate to the obligations of both parties to guarantee the continuation of production and employment in the steelworks.
Also, he added, it is necessary to evaluate stocks, the value of equipment, spare parts of the plan to resume production.
The Minister said that it is important to meet the requirements of the EU relating to the prohibition of state aid and restructuring plan.
At the same time, Vujovic announced that the Board of Executive Directors of the International Monetary Fund (IMF) will decide on a new precautionary arrangement with Serbia on 23 February in Washington.
The government of Serbia yesterday approved a letter of intent that the Governor of the National Bank of Serbia, the Prime Minister and the Minister of Finance should sign today, he said, noting that it will then be sent to the IMF.
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