RTB Bor

The minister welcomed the Chinese ambassador, who recently began her diplomatic mandate in the Republic of Serbia, and particularly emphasized excellent cooperation with the previous Ambassador of China Li Manchang, adding that he believes that successful cooperation will continue.

Vucic on the occasion expressed his confidence that her tenure in Belgrade would leave"a special mark on the steely Sino-Serbian friendship," Tanjug reported, citing a a press release from the president's office.

Chen, who presented her credentials to Vucic, conveyed to him the greetings of Chinese President Xi Jinping.

Tanjug reported this on Fridy citing Miladin Kovacevic, head of the national statistical office RZS.

FDIs in Serbia will reach 3 bln euros in 2018, Miladin Kovacevic, head of the national statistical office RZS, said Friday.

Minister of Mining and Energy Aleksandar Antic and Vice President and Executive Director of Zijin Mining George Fang signed the acquisition contract today.

Mihajlovic, who is also in charge of transport and infrastructure, and Zhong discussed "economic cooperation of the two countries," the Serbian government said.

Vucic expressed his gratitude to Tango for launching the new production line in Senta factory, Tanjug reported.

According to him, this reflects the continuous development of operations and production modernization of the largest Japanese investor in Serbia.

China's Zijin will take a 63-per-cent share of Serbia's failing copper giant RTB Bor in return for offering a 1.26 billion US dollar business and investment plan that includes not laying off any of the 5,000 workers, the Serbian goverment said on Friday.

The Minister of Energy and Mining Aleksandar Antic explained that the Chinese company submitted the best binding bid in the amount of $1 billion and 260 million out of which $350 million would go to mandatory monetary capital increase.

The company's obligations also include keeping all 5,000 workers and providing additional $200 million for previous debts.

Vucic said that he was not familiar with their content but added that "the stronger their competition is, the better for us."

He added that bringing an end to RTB Bor privatization would increase employment rate in the future and it would allow for construction of new motorways to Eastern Serbia.

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Vecernje Novosti reports that the interested companies are Chinese Zijin Mining, Ugold Limited based in Cyprus and backed by Russian capital and Canadian-Finnish investment fund Champion Iron.