Kravchenko announces EUR 1.5 billion three-year investment plan for NIS

(Kirill Kravchenko)

Director General of the Petroleum Industry of Serbia (NIS) Kirill Kravchenko said in a statement for Novi Magazin magazine that that oil company must invest between 400 and 500 million euros every year in order to catch up with the competition, and that that plan was made for the next three years.

He announced a new investment cycle in the phase of processing, as well as in the sphere of turnover, because, according to him, NIS does not have the strongest network of gas stations and that needs to be changed if the company wants to keep its current market share. Kravchenko reiterated that the NIS Strategy until 2020 was marked by the term "five fives": 5-million-tonne production, 5-million-tonne processing, 5-million-tonne turnover in primary segments, introduction of the best international corporate practice (Euro-5 quality management), and the share's value of RSD 5,000.