Privatization of Krusevac-based Oil Factory not before late 2013

Restructuring program at the Fabrika Ulja factory (Oil Factory) in Krusevac should be completed by September, meaning that this factory could be privatized again not before the end of the year, said Nebojsa Radenkovic, the capital representative of that oil factory.

According to him, the value of the property has already been appraised and will be revealed upon the adoption of restructuring program.

- We will first try to sell the factory as a whole for minimum 51 percent of its total estimated value. However, if there are no prospective buyers interested in the entire factory, we will then offer technically separable units for sale - Radenkovic told Tanjug news agency.

As he noted, there are already some interested bidders, including the companies this factory has already been working with - GJ Intertrading GMBH and Lush office, whereas the MBM company from Ub is only interested in buying a part of the Fabrika Ulja factory, that is, the biodiesel production facility.

- We expect a visit from prospective buyers from Russia on May 1st, with whom Krusevac Mayor Bratislav Gasic has already talked in Moscow - said the capital representative.

In the meantime, the factory management is getting ready for privatization and trying to start production, for which they need a financial aid from the state in the amount of RSD 50 million.