The Czech HN daily reports that, according to a proposal from the Ministry of Industry, Unipetrol should have a new strategic owner in 2004. This roughly corresponds with our expectation that a new tender should be called at the beginning of 2003. The Cabinet should discuss Unipetrol privatization strategy in December, in which the holding is likely to be sold as is (not split into separate companies), which is a preferred scenario for minority shareholders.
Chemopetrol (100% owned by Unipetrol) will commence construction of a new polyprophylen unit by the end of 2002, the unit will have an annual capacity of 250t and related capex amounted to CZK 2.2 bil. Expected.
Jiri Soustruznik