"A-Tec" to submits bid for Mining Smelter Basin "Bor" prior to January 30th

(Mirko Kovač)

President of the Administrative Board of Austrian concern "A-Tec", Mirko Kovač, announced that that company intended to submit the bid for purchase of Mining Smelter Basin (RTB) "Bor" prior to January 30, 2009.

- We will submit our offer prior to January 30th - said Kovač in the interview for Viennese weekly magazine "Format" and added that there were total of 11 potential buyers interested in RTB "Bor" and that only part of them would submit the bids prior to expiration of the deadline.

"Format" points out that the privatization concept is this time somewhat different than before, when "A-tec" submitted the bid, but the contract was not signed on that occasion because the Austrian company failed to fulfill its financial obligations of 466m USD on time.

According to the new tender, one third of RTB "Bor" will remain the property of the state, while two thirds will be offered for sale.

- The investment programme substitutes, in a way, the purchase price - Kovač explained.

According to his words, 300m USD should be invested in RTB "Bor" within next five years, including the takeover of the old debt, which equals one third of this amount.