Serbia’s NIS to spend $388.3 mln for business expansion

12/13/2018 9:00:00 PM (GMT)

Serbian oil and gas company Naftna Industrija Srbije (NIS) is planning to invest 40.8 billion Serbian dinars ($388.3 million) in its business expansion plans in 2019.

NIS said that most funds will go in oil and gas research and production, as well as in the completion of deep conversion complex (DCC) at the Pancevo oil refinery.

NIS will invest more than $338.9 million in the construction of the DCC to be launched in the third quarter of 2019.

Furthermore, NIS has a plan to modernize its retail and warehouse network in Serbia and the region, and plans to build a thermal power plant in Pancevo and a wind farm in Plandiste.

Naftna Industrija Srbije

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