Russians interested in Petrohemija – Tendering for privatization to start in February

Russian giants are not giving up on Petrohemija and are the most likely partners of this complex in Pancevo, Serbia, as reported by Novosti. The daily writes that several Russian companies are interested in buying this Pancevo-based company, and the tendering procedure for the privatization will start in February 2019.

– This purchase is a part of the economic package that Vladimir Putin, the president of Russia, is bringing to Serbia in mid-January – Novosti learns unofficially.

Last year, Petrohemija had the largest net profit in Serbia. After the write-off of 47.7% of its debt and the conversion of a part of its liabilities into company shares, the profit in 2017 reached the amount of RSD 40.4 billion. As Novosti’s unnamed source says, the Russians are very interested in cooperating with Petrohemija.

The source adds that, if the Russians give up on the purchase for some reason, Serbia has plan B, counting on Chinese giants, which will be known in April, when the arrival of Chinese President Xi Jinping is expected.

HIP-Petrohemija a.d. Pančevo

Petrohemija Pancevo

privatization of Petrohemija

sale of Petrohemija

Petrohemija operations

Vladimir Putin

Xi Jinping