BELGRADE –  A call for tender has been issued for Serbia’s sole steel mill Zelezara Smederevo on Friday, setting the starting price in the privatization process at EUR 45.7 million.

The invitation, published in the Politika daily, says the estimated market price of the assets on December 31, 2015 was EUR 91.3 mllion, the initial price being 50 percent of this sum.

All parties can submit their offers by March 30 at the latest (12 a.m. CET), and the deadline for filing a request for the sale documentation is March 22.

The opening of bids will take place on April 1 in the premises of the Serbian ministry of economy.

The previous call for tender was unsuccessful, but during Serbian PM Aleksandar Vucic’s visit to China, a new prospective buyer for Zelezara emerged – China’s largest steelmaker HBIS Group.