The Oil Industry of Serbia (NIS) intends to invest 180 million euros in the renovation of 300 gas stations by 2010, provided that the state approves the credit borrowing. The renovation will be partially financed through loans, partially through recapitalization, and partially from regular operations.
"The plan is to partially finance the renovation of gas stations from that loan, while the remainder will be secured from recapitalization funds after privatization and from the company’s own revenues," stated the General Director of NIS, Srđan Bošnjaković. He emphasized that he is confident that the mentioned borrowing will be approved for NIS, adding that the company’s shareholders’ assembly should decide on this request by the end of August. He explained that the technical documentation will be prepared for all stations simultaneously, and that their parallel renovation could begin at the start of next year, which will allow for savings. It is planned that part of the pumps will be completely renovated, with some expected to introduce new products, including liquefied gas, and the investments will also encompass the unification of all facilities into a unique visual identity of NIS-Petrol. Bošnjaković also mentioned that NIS has so far renovated 40 gas stations, but did not specify how much money was invested in this.
