The Montenegrin Privatisation Council said it has adopted a strategy for the sale of its aluminium producer Kombinat Aluminijuma Podgorica (KAP).

The council said it will launch a tender to sell KAP and added it hopes that the sale will draw interest from a strong strategic partner that will invest in the company and ensure its survival and long-term growth. KAP, Montenegro's largest industrial company, has an installed capacity to produce 102k tonnes of aluminium per year.

The sale of Montenegro's biggest exporter has reportedly attracted interest from Russia's SUAL and Rusal, Swiss Glencore, Norwegian Norsk Hydro, Canada's Alcan and US Alcoa.

(NewsBase 28.vi.04)