April 19 (SeeNews) - Montenegro's state-owned power utility Elektroprivreda Crne Gore (EPCG) [MNG:EPCG] has said it is inviting offers for drafting an investment assessment of Rudnik Uglja [MNG:RUPV] coal mining company.
In January, EPCG expressed interest in acquiring shares in Rudnik Uglja and taking full control of the company in order to achieve greater synergies and improve the performance of Montenegro's thermal power sector.
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Interested companies will be able to place bids by May 25, EPCG said in a public invitation published on its website on Tuesday.
The indicative budget of the tender stands at 100,000 euro ($107,175).
EPCG plans to announce the winner within 90 days after May 25.
Italian utility A2A, which owns 41.75% of EPCG, is the largest shareholder in Rudnik Uglja, with a 39.49% stake. A2A entered the shareholding structure of Rudnik Uglja in 2009, when it acquired two million shares in the company for 19 million euro.
The Montenegrin state is the second largest shareholder in Rudnik Uglja, with a 31.11% stake, and also controls a 57.02% shareholding interest in EPCG.
($ = 0.933125 euro)