September 10 (SeeNews) - Serbia is inviting bids in a tender for a strategic partner in state-run petrochemicals producer HIP Petrohemija, it said.
The strategic partner should inject 150 million euro ($177 million) in the capital of HIP Petrohemija, acquiring a stake of up to 90% in the company's capital, the economy ministry said in a tender notice on Thursday.
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Interested parties should pay a deposit of 1 million euro and submit their bids by October 11. They can be domestic or foreign legal entities but not consortia or associated entities.
The Serbian government owns a 75.27% stake in the capital of HIP Petrohemija, oil and gas company NIS owns 20.86%, Lukoil controls 3.09%, while the remainder is in the hands of smaller shareholders.
HIP Petrohemija owns petrochemical complexes in Pancevo, Elemir and Crepaja. It specialises in producing high-density polyethylene (HDPE), low-density polyethylene (LDPE) and other petrochemical products with an annual production capacity of 700,000 tonnes.
($ = 0.8454 euro)