Government of Serbia & Gazprom Neft’s joint venture Naftna Industrija Srbije, the Serbian government and HIP Petrohemija have entered into a strategic partnership agreement under which NIS will increase its capital interest in Serbia’s leading petrochemicals producer, HIP Petrohemija, from 20.86% to 90%, this decision having been taken following the Government of Serbia’s tender to recruit a partner for the business.The agreement envisages additional capitalisation in the amount of EUR 150 million from NIS, and the construction of a high-tech 140,000 tonne capacity polypropylene production complex. HIP Petrohemija’s main production facilities will be modernised, energy-efficiency improvement projects undertaken, and environmentally friendly solutions deployed.HIP Petrohemija is the largest petrochemicals producer in the Republic of Serbia, with total capacity of 600,000 tonnes per year. NIS’ and HIP Petrohemija’s technological cooperation is of many years’ standing, with the straight-run gasoline used in HIP Petrohemija’s production processes being supplied by NIS’ Pančevo oil refinery.
Government of Serbia & Gazprom Neft’s joint venture Naftna Industrija Srbije, the Serbian government and HIP Petrohemija have entered into a strategic partnership agreement under which NIS will increase its capital interest in Serbia’s leading petrochemicals producer, HIP Petrohemija, from 20.86% to 90%, this decision having been taken following the Government of Serbia’s tender to recruit a partner for the business.The agreement envisages additional capitalisation in the amount of EUR 150 million from NIS, and the construction of a high-tech 140,000 tonne capacity polypropylene production complex. HIP Petrohemija’s main production facilities will be modernised, energy-efficiency improvement projects undertaken, and environmentally friendly solutions deployed.HIP Petrohemija is the largest petrochemicals producer in the Republic of Serbia, with total capacity of 600,000 tonnes per year. NIS’ and HIP Petrohemija’s technological cooperation is of many years’ standing, with the straight-run gasoline used in HIP Petrohemija’s production processes being supplied by NIS’ Pančevo oil refinery.
