Rompetrol wants to buy Pancevo petrochemical plant in Serbia

KazMunayGas International (former Rompetrol Group) is one of the companies interested in buying the HIP Petrohemija petrochemical plant in Serbia, according to Serbian media reports.

Rompetrol submitted a letter of intent. However, letters of intent are not bids.

“They are potential buyers, but have no obligation to participate in the privatization,” a source told the Serbian media, reports local Economica.net.

Besides HIP Petrohemija, the Serbian state is trying to privatize other two petrochemical plants, namely MSK Kikinda and HIP Azotara. HIP Petrohemija is Serbia’s largest petrochemical company, with plants in Pancevo and two other cities in Serbia. The Serbian state has a stake of 55% in the company.

The state has already sold the Pancevo refinery to Gazprom. Now it is trying to sell the petrochemical assets as well.

Rompetrol is interested in developing its petrochemical activity, especially since it has remained the only polymers producer in Romania on the Petromidia refinery platform.

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