The Republic of Serbia becomes a majority owner of the „Petrohemija“ Corporation

The minister of finance and economy of the Republic of Serbia – Mr. Bozidar Djelic, and the acting director of the „Petrohemija“ Corporation – Mr. Milan Dudic, signed today the agreement on the conversion of all debts toward the creditors from the Serbia Development Fund, the Fiscal Administration and the Serbian Oil Industry (NIS), making the Republic of Serbia a majority owner of this corporation.

Mr. Djelic qualified the agreement signature as an important act, transferring onto the Republic the total of the “Petrohemija” 5.5 billion dinars debt towards the Fiscal Administration and the 3.8 billion dinars debt towards the Serbian Development Funds. On this same occasion, the “NIS” corporation – claiming 1.8 billion dinars from “Petrohemija” becomes an important share-holder, participating directly to the “Petrohemija” management.

According to Minister Djelic’s estimations, this represents the opportunity for the “Petrohemija” corporation to continue it’s activities as a profitable exporter.