Serbia-based steel producer HBIS Group Serbia Iron & Steel, a part of leading Chinese steelmaking company Hebei Iron & Steel Group, plans to invest €150 million in its Zelezara Smederevo steel mill by 2020, according to media reports.
Sihai Son, the company’s director, has stated that the investment includes the purchasing of new equipment and upgrading the existing equipment to reduce emissions of greenhouse gases and dust.
The group has so far invested nearly €158 million in modernization projects since it took over the facility in July 2016.