Danielli decide to investment in Serbia

Danielli decide to investment in Serbia

Executive Director of the Italian company Danielli Franco Alzetta stated that the company is yet to adopt a decision on potential investments in Serbia after it recently renounced the plans for construction of the factory in Sabac.

Danielli simply slowed down some of its major investment decisions while looking for the best option under the current market circumstances marked by the global economic crisis, Alzetta told the Belgrade-based daily Blic in an explaining the Italian company's decision not to build the factory in Sabac.

When asked whether Danielli definitely renounced the plans for investments in Serbia after the purchase of the Sisak steel mill in Croatia in early June, Alzetta did not give a clear response and instead noted that the final decision is yet to be adopted.

The reasons for renouncing the investment worth EUR 0.5 billion are not the result of the presidential elections or special terms set by the Democratic Party, the company official noted.

Neither of the two theories is correct, Alzetta said.

The world's third largest producer of components for metal industry, Danielli signed a memorandum on understanding in March as a non-binding act on the decision to invest in the construction of a factory of special steel part in Sabac.

According to Blic, pressures on Danielli not to move its production plant from Italy started soon after the signing of the memorandum with the Serbian government, accompanied by the lobbying of neighbouring countries which aim to persuade the company to opt for them instead of Serbia.

Danielli purchased Sisak steel mlant at a tender in May at the price of USD 30 million.