Serbia starts negotiations for the sale of Petrohemija to NIS
BELGRADE (Serbia), October 21 (SeeNews) – Serbia has officially started negotiations for the sale of petrochemical producer HIP Petrohemija to oil and gas company NIS [BEL:NIIS], said a government official.
“The government took the appropriate decisions last week, and yesterday we officially entered into negotiations with the NIS as a potential strategic partner,” said Dragan Stevanovic, Secretary of State at the Ministry of the Economy, as on sees it in a video file posted on the Tanjug news agency’s website on Wednesday.
NIS placed the unique offer in a tender for a strategic partner in HIP Petrohemija earlier this month. The strategic partner intends to inject 150 million euros ($ 177 million) into the capital of HIP Petrohemija, acquiring a stake of up to 90% in the capital of the company.
“NIS has already accepted the commitments contained in its offer, namely that over the next six years it will invest 150 million euros in the HIP Petrohemija plant, build a polypropylene production plant with a capacity of ‘at least 140,000 tonnes per year and will retain the optimum number of workers,’ Stevanovic said.
The Serbian government holds 75.27% of the capital of HIP Petrohemija, NIS 20.86%, the Russian Lukoil controls 3.09%, the rest being in the hands of smaller shareholders.
HIP Petrohemija has petrochemical complexes in Pancevo, Elemir and Crepaja. It specializes in the production of high density polyethylene (HDPE), low density polyethylene (LDPE) and other petrochemical products with an annual production capacity of 700,000 tons.
($ = 0.859 euro)