BELGRADE, March 30 Serbia invited investors on
Thursday to propose terms to buy three heavily indebted,
state-owned petrochemical plants, part of a plan to boost growth
and cut the national debt.
Under the terms of a 1.2 billion euro loan-deal with the
International Monetary Fund which expires next year, Serbia must
sell big state-run firms, including the three petrochemical
plants and the RTB Bor copper mine and smelter.
In three separate invitations, the Economy Ministry said it
wanted offers for the HIP-Petrohemija which produces various
plastic compounds, the fertilizers maker HIP-Azotara and the MSK
Kikinda, a producer of methanol and acetic acid.
Prospective investors will have until May 3 to submit
proposals that include a price, investment plan and details of
the number of jobs they intend to keep in each of the plants.
The three companies owe hundreds of millions of euros in
long-overdue payments for utilities and natural gas which they
use in production and are heavily subsidised by the government.
(Reporting by Aleksandar Vasovic; Editing by Edmund Blair)