SARAJEVO (Bosnia and Herzegovina), July 6 (SeeNews) – The privatisation agency of Bosnia's Federation called a tender on Thursday for the sale of an office building of majority state-owned steel mill Zeljezara Zenica, seeking to raise at least 9.8 million marka ($5.7 million/5 million euro).
The building, Hotel Internacional, covers an area of 608 sq m and is located on a land plot measuring 1,227 sq m, the privatisation agency announced on its website
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The buyer will be obliged to keep 35 Zeljezara Zenica employees for at least three years and to invest a further 980,000 marka within 24 months after the purchase.
The deadline for the submission of bids is July 21.
The steel mill is based in Bosnia's fourth-largest city, Zenica. The manufacturing operations of the company were privatised in the late 1990s by a Kuwaiti investor and it was renamed to BH Steel. In 2004, the company was taken over by Lakshmi Mittal and became a part of the Arcelor Mittal group in 2006. The operations that remained in government hands are currently highly indebted.
The Federation is one of the two autonomous entities that make up Bosnia and Herzegovina. The other one is the Serb Republic.
(1 euro= 1.95583 marka)