Following the historic two-day visit of the President of the People’s Republic of China, Xi Jinping, who together with the President of the Republic of Serbia, Aleksandar Vučić, signed the Joint Statement on Deepening and Elevating the Comprehensive Strategic Partnership and Building a Serbia-China Community with a Shared Future in the New Era, the talks between the two presidents placed particular emphasis on the great importance of the work of the Smederevo Steelworks, that is, the company HBIS, which is Serbia’s largest exporter and employs more than 5,000 of our fellow citizens.
The Republic of Serbia and the People’s Republic of China have proved that a firm and sincere friendship can overcome vast geographical distances.
The Chinese side is committed to continuing to invest in Serbia, and in Smederevo too.
Under the framework agreement signed today on behalf of the Government of the Republic of Serbia with the company China Energy International Group by the Minister of Mining and Energy, Dubravka Đedović Handanović, the site for building the Oil Refinery has been designated; it is located in the territory of the City of Smederevo and covers an area of around 114 hectares.
According to information from the Office of the National Council, detailed research and analyses of the oil market, both in Serbia’s neighbourhood and more widely, have been carried out with China, confirming strong interest in building such a facility.
Analyses have also been carried out for the unhindered transport of crude oil to the site, and Letters of Intent have been received from suppliers, representative oil companies that are ready to supply crude oil for the needs of the Oil Refinery.
The new oil refinery will reduce the Republic of Serbia’s energy dependence, and its operation will significantly increase GDP.
The refinery is expected to employ 700 workers directly, while around 2,400 workers will be engaged indirectly. Planned production is 100,000 barrels of oil per day.
The estimated value of the project is around EUR 2.4 billion, which is a direct Chinese investment.
Following the Framework Agreement signed today, the statutory procedure will continue with regard to public inspections, design and the selection of the final supplier of refinery equipment, which will comply with the highest environmental and other standards, both those laid down by the applicable laws of the Republic of Serbia and those in force in the European Union.
