Fertilizer company "Pančevo" to be put in operation on August 1st, 2009

The Director General of "Srbijagas", Dušan Bajatović, said yesterday (July 9, 2009) that he had reached the agreement with the management and trade unions of Pančevo-based "Azotara" (Fertilizer company) that the production in that company, which had been closed since May 2008, should start on August 1st.

- The agreement has been reached on 100m EUR worth of restructuring programme for "Azotara", which should be approved by the Government of Serbia within the next two weeks - Bajatović said at the press conference in Pančevo.

He said that that programme should write off 55m EUR out of total of 96m EUR worth of debts of "Azotara" to the state and banks, based on which public company "Srbijagas" would become the owner of 81.6% of stocks of "Azotara".