Agreement with Mytilineos reached – Serbia to pay USD 40 million in four installments by December 2018

On Tuesday, February 6, 2018, representatives of the Greek company Mytilineos signed the final agreement on the settlement with the Government of Serbia in the amount of USD 40 million, the sum defined by the International Court of Arbitration, related to the debt of RTB Bor.

According to the press release by the Greek company, the agreement was signed by Minister of Economy Goran Knezevic and Ministry of Mining and Energy Aleksandar Antic on behalf of the Serbian party.

The Serbian government proposed for the compensation to be paid in four installment without an interest, with the final one due in December 2018, which Mytilineos agreed to.

This way, the two parties finally resolved the 15-year dispute and created all the conditions for Mytilineos to return to the Serbian market soon, the Greek company's press release says.

Ministarstvo privrede Republike Srbije

Ministarstvo rudarstva i energetike Republike Srbije

Mytilineos

Ministry of Economy

Ministry of Mining and Energy

Mytilineos RTB Bor dispute

International Court of Arbitration in Geneva

debt of RTB Bor to Mytilineos

Goran Knezevic

Aleksandar Antic