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Rompetrol will invest nearly 1 billion USD over three years to upgrade Serbian oil company Naftna Industrija Srbije (NIS) if they win the race for its privatization, according to Rompetrol CEO Dinu Patriciu. "Some 800-900 million dollars needs to be invested to upgrade NIS production systems to European standards.
If we win, we will ensure these funds," he said, quoted by NewsIn. He added that, after the establishment of a new government in Serbia, the privatization of the country"s biggest company would be a priority. Patriciu"s estimates that the privatization will be resumed in May and last between four and six months. In his view, Rompetrol and NIS can jointly cover up to 50 million consumers.
"It"s not just about Romania and Serbia, but also Bulgaria, Macedonia, Montenegro, Kosovo, Albania and Bosnia," he said. Rompetrol posted a Y2006 consolidated turnover of 5.65 billion USD, up by 135% year-on-year and EBITDA of 164 million USD, the same as in 2005.
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