On July 4, Hebei Province-based Chinese steelmaker Hebei Iron and Steel Group Co. (Hebei Steel Group) announced that it has inked a transfer of rights agreement with Serbia-based Smederevo steel plant. Accordingly, Hebei Steel Group has officially acquired the Smederevo steel plant, becoming its owner and operator.
On April 18 this year, Hebei Steel Group inked an acquisition agreement with the Serbian government to buy the Smederevo steel plant. The plant was established in 1913. It has an annual steel output capacity of 2.20 million mt.