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Signing of memorandum on strategic partnership between Fiat and Zastava
Belgrade,
29 April 2008
Serbian Minister of Economy and Regional Development Mladjan Dinkic said that representatives of the Italian Fiat will sign tomorrow in Belgrade the Memorandum on strategic partnership with Kragujevac car maker Zastava.
Dinkic explained that this is a completely new model of strategic partnership which is in line with Serbian regulations, and added that if this model works, it will be applied to the privatisation of RTB Bor mining and metallurgical complex and 14. Oktobar factory from Krusevac.
He said that a model of joint investment with Fiat is being examined, in which the state would keep a minority share in Zastava, with the possibility to sell it in five years’ time, if it wants to.
In that way we would get a much bigger price because that will be a completely new factory, the minister said and added that a much larger investment than the €300 million, originally agreed with Fiat, is being considered.
Dinkic said that contacts with Volkswagen have been continued, since the idea is to bring that company to Kragujevac as well, and build a new car factory.
In that way we would get a much bigger price because that will be a completely new factory, the minister said and added that a much larger investment than the €300 million, originally agreed with Fiat, is being considered.
Dinkic said that contacts with Volkswagen have been continued, since the idea is to bring that company to Kragujevac as well, and build a new car factory.
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