Canadian EDC is willing to finance construction of smelter in Bor

- Canadian agency Export Development Canada (EDC) is willing to provide a loan for construction of new smelter in Minin-Smelter Basin "Bor" (RTB) - the Ministry of Economy of Serbia announced.

According to the announcement, EDC is also willing to finance construction of the factory of sulfur acid and procurement of new mining equipment for RTB.

The delegation of the Ministry of Economy of Serbia, which is staying in the capital city of Turkey on the occasion of the annual meeting of the World Bank and the International Monetary Fund, had the meeting with engineering company "SNC Lavalin" from Canada, which is the author of the preliminary feasibility study for the new smelter and the factory of sulfur acid in RTB "Bor".

The meeting was also attended by Ken Camber, the Finance Director of EDC.

According to some earlier information of the Ministry of Economy, about 130m USD should be invested in the new smelter in Bor. RTB should finance construction from the loan, the guarantee for which is to be provided by the Government of Serbia. The Government has decided to do that after three unsuccessful tenders for sale of RTB "Bor".