July 19 (SeeNews) - Serbia's energy minister Aleksandar Antic said the government expects to sign a contract with a strategic partner in state-run copper mining and smelting company RTB Bor by the end of the year.
The government will complete the analysis of the submitted bids and pick the best of them in September, in order to sign a contract by the end of the year, Antic said in a video file posted on the YouTube channel of Serbian public broadcaster RTS on Wednesday.
Serbia's economy ministry said on Wednesday it is inviting bids in a tender for a strategic partner in RTB Bor who will inject $350 million (300 mln euro) in the capital of the company.
The contract with the investor will be signed after it pays $100 million upfront to the government, as specified in the tender documentation, Antic said in the video file.
"Only on the first day, and the tender was announced yesterday, four companies expressed interest to buy the documentation, which, I must say, is not cheap," Antic said.
Antic said earlier this month that 11 companies have expressed interest in the tender.
Potential candidates face August 20, 2018 deadline to submit offers in the tender.
A Serbian court approved in July 2016 a plan for the restructuring of RTB Bor, allowing the write-off of 90% of the company's unsecured debt. Under the plan, the remaining 10% of debt will be repaid over eight years with a one-year grace period, while the secured debt will be converted into equity.
($ = 0.861354 euro)