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The Government of the Republic of Serbia

In the service of citizens

Italian company Danieli to build steel plant in Sabac

Belgrade, 29 March 2012

Minister of Economy and Regional Development Nebojsa Ciric, Director of Operations of Italian company Danieli Franco Alzetta and Mayor of Sabac Milos Milosevic signed today the Memorandum of Understanding on the construction of a steel mill in Sabac which will employ approximately 1,000 workers.

Author: Tanjug

Danieli is one of the world’s top three manufacturers of equipment and production lines for iron and steel industry, and this investment, worth approximately €500 million, includes construction of the company’s steel mill in the industrial zone of Sabac.

After the signing of the memorandum at the Presidency of Serbia, Ciric said that Danieli will produce annually at least 750,000 tonnes of special types of steel, and its exports will be at the level of approximately €1 billion.

The Minister underlined that today is a good day for the economy of Serbia and its citizens because a major investor decided to make Serbia his production base for future business operations.

This investment shows good prospects for the Serbian economy in times of global crisis, Ciric concluded.

Serbian President Boris Tadic, who attended the signing of the memorandum, thanked the Italian company for choosing Serbia as its investment destination.

We have an absolutely clear vision of economic development of Serbia and we are aware that we must realise it in difficult circumstances, when the economic growth of most European countries is decreasing. But even in such circumstances we have to improve the economic development of Serbia and it can only be done through investments of this kind, the President declared.

He said that the arrival of Danieli is significant not only because of the large number of jobs that will be opened, but also because of the fact that it will bring the state-of-the-art technologies to Serbia and will provide a significant contribution to reducing its foreign trade deficit.

Alzetta said that after nine months of negotiations the memorandum was signed today, which should be a basis for further cooperation and expressed his gratitude to the employees in the public administration of Serbia and the municipality of Sabac on demonstrated understanding for his company’s needs.

This is a good starting point for the development of your country and with this attitude, I am sure you will attract more investors to Serbia, Alzetta stated.