21 January 2021

Press Statement

Members of a Working Group composed of Serbian Government officials and representatives of Chinese investors met today at the seat of the National Council to discuss the construction of an oil refinery in Smederevo. The meeting was chaired by Mr. Tomislav Nikolić and it was also attended by Mr. Ivica Kojić, Chef de Cabinet of the Office of the President of the Republic of Serbia and Mr. Dragan Stevanović, State Secretary at the Ministry of Economy, among others. The meeting was a follow-up to the ones that the Chinese investors’ delegates had with the officials of Serbian public infrastructure enterprises. The plan envisions the construction of a refinery at a site which had already been earmarked for the purpose.

The refinery is envisaged to produce Euro 6 without any emissions of harmful gases. Companies from Germany and the United States are to participate in equipment manufacturing.

The Chinese investors’ representatives expressed their readiness to launch the project in April 2021, following agreements and the harmonization of all issues with the Working Group to be formed by the Government of Serbia, while the approximate deadline for the completion of Stage 1 would be limited to 4 years.

The said investment, estimated at about USD 2.6 billion, will pioneer the latest technology ensuring full environmental protection.