Vucic: RSD 11 Billion on Petrohemija’s Account, Negotiations with Russians Should be Finalized as Soon as Possible

Petrohemija Pancevo currently has RSD 11 billion on its account (around EUR 90 million) and the company operates well, the president of Serbia, Aleksandar Vucic, said today.

– Petrohemija now has no problems with operations, but could have some in the future and it is important for the negotiations with the Russians about the privatization to be finalized as soon as possible. That will solve the majority of the problems of the company from Pancevo – Vucic told the press in Pancevo, where he visited the factory of the German company Brose.

Naftna Industrija Srbije (NIS), whose majority owner is the Russian Gazpromneft, is the only bidder for the privatization of Petrohemija Pancevo.

This September, the Ministry of Economy invited all interested local and foreign legal entities to take part in the privatization process in that company through the model of a strategic partnership, a recapitalization of EUR 150 million, whereby a stake of 90% at the most is acquired.

Predsedništvo Republike Srbije

HIP-Petrohemija a.d. Pančevo

Ministarstvo privrede Republike Srbije

NIS a.d. Novi Sad

president of Serbia

Petrohemija

NIS

Gazpromneft

Ministry of Economy

Aleksandar Vučić

privatization

business operations

offer

bid

negotiations

strategic partnership

recapitalization