October 23 (SeeNews) - Serbia's president Aleksandar Vucic said on Monday the government faces serious problems in the restructuring of chemicals group MSK Kikinda and chemical fertilisers producer HIP Azotara Pancevo due to the high price of natural gas.
The restructuring of MSK Kikinda and HIP Azotara is currently a priority for the government, as the problems at steel mill Zelezara Smederevo have already been resolved, while copper miner and smelter RTB Bor is performing well, Vucic said in a video file posted on the website of Serbian news agency Tanjug.
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The problems of majority state-owned MSK Kikinda and HIP Azotara need to be tackled urgently, as the losses of the two companies are a burden on the entire state, Vucic said.
A meeting will be held on Tuesday or Wednesday to discuss the potential next steps that have to be taken in the restructuring of the two companies, he added.
In September, Serbian media reported that the International Monetary Fund (IMF) has called on state-owned gas monopoly Srbijagas to dispose of non-core assets by selling its stakes in MSK Kikinda, HIP Azotara Pancevo and ceramics producer Toza Markovic.
According to data from the Serbian economy ministry, the stakes of Srbijagas in HIP Azotara and MSK Kikinda stand at 85.06% and 71.86%, respectively.