Plan B for Serbian Ironworks

Government rejected the offer from "Esmark steel" Plan B for Serbian Ironworks

"Esmark" is not coming to Smederevo, but "Serbian Ironworks" will continue with its usuall activity, the government announced yesterday.

Now, it's time for plan B: Serbian government is still the majority owner, but in Monday will announce the international public tender for experts who will manage the "Serbian Ironworks".

- It is obvious that we are not capable to do that ourselves.That is why we are inviting the best experts in the world to help Ironworks to earn some money - Prime Minister Aleksandar Vu?i? stated yesterday.

The invitation will be open for 10 days, after which a new managing team will be formed.

Prime Minister says that Serbia will not be giving money to "Ironworks" anymore. His government inherited the situation without any feedstock, and now "Ironworks" has 170 million dollars in working capital, which is enough to start a serious business.

- The plan is to keep all employees, and to switch on the second furnace by next year. Plan B will be much less riskier than the previous one - Vu?i? said.

The reason for his optimism lies in possibility that EU might help the "Ironworks". Allegedly, Commissioner for European Neighbourhood Policy & Enlargement Negotiations Johannes Hanh promissed Vu?i? that the European union will help Serbia in case the agreement with "Esmark" fails.