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Kosovo's nickel plant Ferronikeli up for sale


Prishtina, Apr 27, 2005 (AP) - A nickel plant in Kosovo [Ferronikeli] went up for sale Wednesday as the U.N. mission in Kosovo agreed to give a mining license to the most successful bidder, the United Nations said.

Companies have been asked to table bids for Feronikeli plant in central Kosovo, which was badly damaged during NATO bombing of Serb forces in this disputed province in 1999 and is one of the major plants in the economically depressed province.

The United Nations, which administers the province, also agreed to provide potential buyers with the license for exploitation and exploration of the mines, said Mechtild Henneke, a U.N. spokeswoman.

Final agreement with potential buyers will be reached sometime in May, officials said.

Kosovo is the poorest region in the Western Balkans with an annual gross domestic product per capita of around euro 1,000 (US$1,300) and a jobless rate of at least 50 percent, according to EU figures despite the fact that is rich in mines and minerals.

The privatization of Ferronikeli would be the most important sell-off of socially owned enterprises, a term used for enterprises owned by the workers and managers under a system set up under communist-era Yugoslavia.

Privatization is also among the most sensitive economic issues in Kosovo, a disputed province which was put under U.N. protection in June 1999 following a NATO air war that pushed Serb forces out of the province after they cracked down on ethnic Albanians seeking independence.

The process of privatization is complex, in part because it is unclear whether Kosovo will become independent or remain part of Serbia-Montenegro, the successor state of Yugoslavia.

Serbia's authorities have fiercely opposed the process of privatization.

Many of the companies in the province are overwhelmingly inefficient and often dilapidated after years of neglect and ethnic conflict in the province.



Source: AP
 
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Background information for foreign investors

Kosovo: General Information
Kosovo: Key economic indicators
Why do business in Kosovo?
Legal Framework in Kosovo
KTA and Privatisation in Kosovo



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Current publications

Company Foundation, Taxes and Employment Law in Kosovo
Company Foundation and Taxes in Kosovo
Potential of economic sectors and enterprises in Kosovo
Program of Recovery and Production in Ferronikeli (in English)
Guide for starting new companies / enterprises in Kosovo (Updated version)

 


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