Tender for RTB Bor announced today
Exactly a year after the first one, the new tender for the RTB Bor copper mining complex has been announced Friday.
Friday, 31.08.2007.
10:51
Exactly a year after the first one, the new tender for the RTB Bor copper mining complex has been announced Friday. Basic Element, owned by Russian billionaire Oleg Deripaska, has already announced its participation in the tender. Tender for RTB Bor announced today The minimum price for RTB Bor will be USD 340mn. Economy and Regional Development Minister Mladjan Dinkic told B92 that the tender would be "completely transparent" and that he expected the winner to be announced by the end of the year. He said that the starting price would be about USD 80mn higher than in the first tender, while the minimum investment after purchase would be USD 180mn, three times the previous sum. The company's independent unions are generally against Bor’s entire capital being sold off, while many economists are worried that the tender will fall through. Basic Element officials have already discussed the tender with Prime Minister Vojislav Kostunica. Also expected to participate in the tender is Zoran Drakulic, a former Kostunica associate, who heads East Point - ORN consortium, which participated in the first tender to come in second to Romanian Cuprom. In April, Cuprom first signed and then broke off a contract after being unable to secure banking guarantees for the USD 400mn acquisition.
Tender for RTB Bor announced today
The minimum price for RTB Bor will be USD 340mn.Economy and Regional Development Minister Mlađan Dinkić told B92 that the tender would be "completely transparent" and that he expected the winner to be announced by the end of the year.
He said that the starting price would be about USD 80mn higher than in the first tender, while the minimum investment after purchase would be USD 180mn, three times the previous sum.
The company's independent unions are generally against Bor’s entire capital being sold off, while many economists are worried that the tender will fall through.
Basic Element officials have already discussed the tender with Prime Minister Vojislav Koštunica.
Also expected to participate in the tender is Zoran Drakulić, a former Koštunica associate, who heads East Point - ORN consortium, which participated in the first tender to come in second to Romanian Cuprom.
In April, Cuprom first signed and then broke off a contract after being unable to secure banking guarantees for the USD 400mn acquisition.
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