5 March 2024

Council President Nikolić meets Chairman of China Energy International Group

President of the National Council for Coordination of Cooperation with the Russian Federation and the People’s Republic of China Tomislav Nikolić talked today with a delegation representing China’s China Energy International Group (CEIG), headed by Mr. Lv Zexiang, the company’s Chairman.

“Sino-Serbian cooperation has reached a historic high both in political and economic terms. Our two nations support and trust each other, especially economy-wise. Last year’s total value of our company’s completed projects abroad amounted to USD 10 billion. CEIG is actively working on the Smederevo Oil Refinery project, and has devoted its full attention to the international circumstances, the cost-effectiveness and the search for the majority partner, the future project owner. My delegation includes the representatives of Gezhouba International Corporation, Jepccl, TEPC, SWEPDI and NWEPDI, companies interested in exploring and penetrating the Serbian market in their respective lines of business. We aim to heighten our company’s future level of activity in Serbia and the region alike. In addition to our work on the Smederevo Oil Refinery project, we stand ready to invest in projects involving gas-fired power plants, wind turbines and green energy. The price of the electricity generated by solar plants and wind turbines is very affordable; therefore, we would like to help reduce the future price of electricity for Serbian household consumers and boost Serbia’s capacity to export it, under more favourable terms, to the countries of the European Union,” Mr. Lv Zexiang of CEIG underscored.

“The scope of interest of the company that you are leading is extremely wide. I perceive the readiness of CEIG to take a more active future role in the Serbian market as a matter of vital importance for further solidification of our countries’ economic relations. Serbia offers room for the implementation of projects that CEIG is interested in. Common projects are the binding tissue, the catalyst of mutual trust and the facilitator of our citizens’ greater prosperity. The Smederevo Oil Refinery project has long been discussed, as it is extremely demanding, but I believe that by virtue of hard work and serious analysis, one can acknowledge its mutually beneficial profitability. Electricity production in Serbia is generally cheaper than in the rest of Europe, and given all the circumstances, Serbia provides households with comparatively inexpensive electricity. Serbia and PR China are open to mutual cooperation and our leaders’ sole focus is on the activities aimed at promoting the interest of our peoples; hence, I am looking forward to our new common achievements and the participation of Chinese companies in the lead-up to the International Specialized Exhibition EXPO 2027 in Belgrade,” Council President Nikolić stressed.