July 25 (SeeNews) - Serbia's government plans to launch a tender for the sale of state-run petrochemicals producer HIP Petrohemija by the end of September, the International Monetary Fund (IMF) said.
The objective of the privatisation of Petrohemija is to reduce the fiscal risks for the Serbian government, the IMF said in a staff report on the country published on Tuesday.
The privatisation of Petrohemija was agreed under the terms of the 30-month Policy Coordination Instrument-supported programme for Serbia approved by the IMF board earlier this month.
In May, Serbia's energy minister Aleksandar Antic said Russia's Gazprom Neft has expressed interest in the acquisition of HIP Petrohemija.
The government plans to accelerate the talks with Gazprom Neft on the sale of HIP Petrohemija as it needs a strategic investor in the company, Antic said back then.
Russian media reported last year that Gazprom Neft plans to acquire the entire capital of HIP Petrohemija, as the company is the main partner of Gazprom's local subsidiary NIS [BEL:NIIS].
Gazprom Neft controls a 56.15% stake in the capital of NIS, a supplier of raw materials to HIP Petrohemija. NIS, in turn, owns a 12.72% stake in the capital of HIP Petrohemija, according to data from the teaser prospectus of the petrochemical group posted on the website of Serbia's privatisation agency.