Azerbaijani companies keen to privatize Serbian petrochemical firms

Azerbaijani companies keen to privatize Serbian petrochemical firms
Serbian government owns 54.89% of HIP Petrohemija's share capital

Baku. 27 January. REPORT.AZ/ Azerbaijani companies have shown interest in the potential privatisation of Serbian petrochemical firms.

Report informs referring to the Energy Ministry of country, Azerbaijani Ambassador to Belgrade Eldar Hasanov said. According to him Azerbaijani companies are interested in the privatisation process in Serbia, especially in the petrochemical sector.

The Serbian government owns 54.89% of the share capital of the largest petrochemical group in the country, HIP Petrohemija. Oil and gas firm NIS, in which Russia's Gazprom Neft owns a 56.15% stake, controls 12.72% of HIP Petrohemija.

Serbia's parliament passed a law for the restructuring of 254 million euro of debt of HIP Petrohemija owed to NIS last month. Under the law the Serbian government will convert 105 million euro of the liabilities of HIP Petrohemija to NIS into state debt and will repay it in six instalments by June 2019.

Notably, the Azerbaijani Ambassador invited Antic to participate in the third meeting of the Consultative Council on the Southern Gas Corridor project, to be held in Baku on February 23, 2017. 

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