Initialing of the Agreement port activities on the performance of port activities with Hesteel Serbia Iron & Steel Ltd. Beograd

General manager of Port Governance Agency, Mr. Vuk Perović and representative of Hesteel Iron & Steel Serbia d.o.o Beograd, Mr. Li Bazonga, initialed today in Belgrade the Agreement on the performance of port activities in the port of Smederevo.

The contract predicts that Hesteel Serbia Iron & Steel performs port activity for a period of 25 years at two international terminals and building the necessary superstructure in the port area, and that the port infrastructure and the land will be transferred to the Republic of Serbia.

Initialing of the said Treaty was preceded by selling assets of Smederevo steelworks company Hesteel Serbia Iron & Steel. All rights and obligations of port operator Smederevo pre sales passed on Hesteel Iron & Steel Serbia, Beograd.

In this regard, the company was issued on June 30 this year a port operator license.

The Agreement will be on force upon signature, as soon as all conditions are met.