Srbijagas General Director Dusan Bajatovic announced on Wednesday that production will be re-started in Pancevo Fertilizer Plant and metal complex-acetic (MSK) from Kikinda because they found a strategic partner for these companies.

Bajatovic said to reporters that the strategic partner is likely to be Russia's Gazprom, a Swiss and a Bulgarian company, which will provide gas Fertilizer Plant and MSK, and Serbia will pay for the delivery of goods, which will relieve the financial Srbijagas, as the majority owner of two companies.

Fertilizer Plant, according to preliminary agreement, is to be sold to the Bulgarian partner for about 67 million, he said, adding that the capital will be paid 35 million euros, binding investment will amount to about 22 million, 10 million will be earmarked for the repayment of bank claims on the Fund development, and the social program will be allocated EUR 300 per year of service.

As for the Pancevo petrochemical, which Srbijagas currently owns with about 80 million, Bajatovic said that the problem must be solved in cooperation with the Serbian government.

He said that National Bank of Serbia's is analyzing license application of "Sogaz insurance" and is expected within 40 days of the issuance of licenses, to form the joint insurance company of both Russian Sogaz and Srbijagas.

Speaking about the announced arrival of "Gazprom Bank" to the Serbian market,Bajatovic said there is a preliminary agreement to be "greenfield investment", but did not specify when the Russian bank should begin to operate in Serbia.

He also stated that the joint venture "South Stream - Serbia", whose headquarters will be in Switzerland, will be established within next 15 days.