Oct 20, 2005. /Lesprom Network/. Serbia offered on Wednesday for privatisation a majority stake in its paper producer Fabrika Hartije, setting the starting price at CSD 94.367 million (Euro 1.1 million). The bidders interested in the 70% stake on sale should be ready to invest at least CSD 425.373 million in the modernisation of the company, Serbian government's Privatisation Agency said in a tender notice. The investors will be also required to repay Fabrika Hartije's outstanding debts of around 300 million dinars. Fabrika Hartije's capital, offered for privatisation, is valued at Euro 5.549 million, the agency said. The investors must pay 47.184 million dinars deposit to participate the public auction, which is set for November 17. Fabrika Hartije, set up in 1927, reported a revenue of Euro 1.3 million for the last year, up from a revenue of Euro 1.1 million for 2003.