Thursday, 16 July 2009

Serbia's HIP Petrochemja stutters back to life

Beleaguered HIP Petrohemija is to receive financial aid to restart output. The company ceased production in late June for a sheduled shutdown but then claimed it could no longer afford to purchase feedstocks.

According to ICIS news, now it has has secured at least €10m in financial support from the Serbian government that will allow it to restart production within a few weeks, Serbia's largest petrochemical producer said on Tuesday.

The government agreed in May that help was necessary.

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