Bids of interested investors for procurement of Mining Smeltery Basin "Bor" to be opened tomorrow (November 30)

The five-member commission made of representatives of the Government of Serbia, management, majority trade union of Mining-Smeltery Basin (RTB) "Bor" and Municipality will open the envelopes with the bids for procurement of Bor-based copper combine tomorrow (November 30, 2006) in the Privatization Agency of Serbia.

The bids contain only the codes of the companies with the information on the meeting of terms of procurement. Later, the Commission will meet again and rank the most favorable offers. After that, the bids of the best bidders will be taken into consideration at the meeting of the Government of Serbia and signinf of the sales contract will follow. It is expected that the nw owner will take over the company prior to mid-March 2007.

According to unofficial information, the tender bids were sent by five world companies: Russian "Bazni element", Romanian "Kuprom", "Almako" from Cyprus, "East point" of Zoran Drakulić and American "Hi tech".

It is expected that the starting price determined by the tender - 266.7m USD, will be exceeded and that the investments will reach the amount of 700m - 1 billion USD.