The Public Utility Enterprise Stan from Novi Sad has placed an international ad for a public-private partnership.
The invitation, which is open until November 23, says that they are looking for a private partner prepared to repay the company's debts towards its creditors and workers, which amount to over RSD 500 million, and enable to company to function over the next ten years. The private partner is also expected to take in 138 current workers of PUE Stan.
The private partner will also have the obligation, in founding the new company, in which its stake will be 70%, whereas 30% will belong to the City (15% to Novi Sad and PUE Stan each, as special legal persons), of investing RSD 162 million as share capital, which will serve to repay the workers' claims.
In addition to the share capital, no special investments in the company are required, except to annually invest 5% of the total book value of the fixed assets at the beginning of each business year.
The documentation states that the new company will be called Stan NS
The agreement is signed for 10 years, and the City obliges to enable Stan NS to charge the chimney cleaning fee, which amounts to over RSD 11 million a month, and collect revenues from public lighting maintenance, amounting to around RSD 40 million a year, for the duration of this period.
On the other hand, when it comes to building maintenance, it is not certain that the new company will perform the said job, as tenant associations will not be obliged to extend the contracts. In case the current number of over 900 buildings remains, the revenues will amount to around RSD 9 million a month.
As eKapija previously reported, the City of Novi Sad reached the decision to enter the project of a PPP due to the big financial problems of PUE Stan
. The Lithuanian company Civinity was mentioned as an interested partner and it confirmed being interested, whereas representatives of the Independence Union believed at the time that the implementation of the PPRP, adopted by the City Assembly back in 2013, would be a better solution.