ZAGREB, April 15 (Hina) - The profits of Croatia's oil giant INA in 2001 will total around US$100 million, the head of the INA Management Board, Tomislav Dragicevic, said on Monday.
ZAGREB, April 15 (Hina) - The profits of Croatia's oil giant INA in
2001 will total around US$100 million, the head of the INA
Management Board, Tomislav Dragicevic, said on Monday. #L#
Speaking after an internal award-giving ceremony, Dragicevic
stressed that INA had overcome a difficult financial situation and
that it was legally and organisation-wise a stable company and as
such ready to start looking for a strategic partner. He added that
the true market value of INA would only be known for sure once it was
"placed on the stock market".
Dragicevic believes that the Croatian government will select a
strategic partner who will support the company's technological
advancement and that this should be one of the most significant
criteria during the selection process.
He reminded that at least seven percent of shares in the company
should go to former employees, 11 percent would go to former owners,
and 15 percent of the total number of shares would be offered on the
market.
Speaking about the company's future plans, Dragicevic said that INA
would invest in upgrading refineries and petrol stations and other
basic company activities as well as in developing gas fields.
The company also plans to expand to foreign markets, particularly
to Bosnia-Herzegovina, where sales recently increased by 100
percent.
INA is interested in the possible privatisation of the Serbian oil
company Jugopetrol, so that it could become the main supplier of
fuel for Serbia, while preserving its market in Montenegro,
Dragicevic said.
(hina) sp rml