POST Online Media Lite Edition


Serbia to launch RTB Bor privatisation tender by end-March

Staff Writer |
Serbia's government said it plans to launch a tender for the privatisation of copper mining and smelting company RTB Bor by the end of March.

Article continues below

Serbia has launched a call for a privatisation adviser for RTB Bor, and discussions with potential investors are ongoing, including on addressing environmental risks, the government said in a letter of intent sent to the International Monetary Fund (IMF) following the completion of the Eighth Review of Serbia’s Stand-By Arrangement (SBA).

This year the company has been meting all its financial obligations, including taxes, wages, and electricity, the government said. 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% will be repaid over eight years with a one-year grace period, while the secured debt will be converted into equity.

What to read next

Germany find Serbia attractive for investment
EU will never allow Serbia to become its member, says Russia
Li Keqiang urges speedy construction of China-Europe land-sea express