Friday, 24. October 2014.
Signed the Agreement on making adetailed regulation for construction of polypropylene plant in HIP-Petrohemija
Agreement on making a Plan on detailed regulation for construction of polypropylene plant in HIP-Petrohemija was signed between HIP-Petrohemija and the Directorate for the construction and renovation of Pancevo. Funding for the preparation of plans and project documentation for the construction of a new plant has been provided in the framework of the activities of Government of Republic of Serbia that are directed toward lasting operations stabilization and the completion of the privatization procedure of HIP-Petrohemija and in accordance with the Cooperation Agreement of HIP-Petrohemija and NIS.
Signing of the Agreement on making a Plan on detailed regulation is of a great importance for HIP- Petrohemija, taking into consideration that construction of polypropylene plant,foreseen by the Strategy of development of HIP-Petrohemija 2014-2030, represents a key investment for the survival and further development of the company. By the construction of polypropylene plant, having the investment value of about 120 million eur, Petrohemija would improve commercial products valorization, come out from the zone of business losses, increase export potential and contribute to the development of the economy at the national and local level.
The first phase of the project includes making of plan and technical documentation for construction of a new plant within which, in addition to the Plan on detailed regulation,there are foreseen selection of license, feasibility study with preliminary design and study on the assessment of environmental impacts.
HIP-Petrohemija welcomes the announcement of the Government of Republic of Serbia that strategic solution for our company will be found by the end of the year.