20 Kosovo Enterprises to be privatised in 7th round

Prishtina, July 12. 2005 – The Kosovo Trust Agency Board in its last meeting has decided to announce the 7th wave of privatisation which will include 20 SOEs as 27 New Co, said Pillar IV Information Office.

In this notification is said that this wave is going to be launched on 18th of July and Rahoveci winery; Eximkos, and the road construction company Trasing are going to be among the SOEs to be privatised in this wave.

This is the seventh time the Kosovo Trust Agency has tried to sell the enterprises, which were once owned by their workers and managers under the system set up during communist-era Yugoslavia. The privatization agency is hoping 27 new companies will be created when the sales are complete.

Earlier this year, the U.N. mission set new rules for the privatization process. With the new rules, the agency has earned the legal right to sell and determine the new owners of the companies.

The agency hopes the new powers will avert concerns from investors concerned that a change in the political landscape would rob them of their assets.

In the Board meeting it was also decided that Mr. Jasper Dick becomes Managing Director of KTA.