Bulgaria Kremikovtzi Steel Mill Talks Reach Crisis Point

Business » INDUSTRY | April 28, 2009, Tuesday // 11:05
Bulgaria Bulgaria Steel Mill Talks Reach Crisis Point: Bulgaria Kremikovtzi Steel Mill Talks Reach Crisis Point Bulgarian deputy Economy and Energy minister, Nina Radeva, was negative about the chances of saving Bulgaria's Kremikovtsi steel mill. Photo by Darik News

Bulgarian deputy Economy and Energy minister, Nina Radeva, has stated that talks with Brazilian steel giant CSN over the future of Kemikovtsi are in crisis.

Radeva said that the latest round of talks with CSN will probably finish unsuccessfully and that it is completely normal for Bulgargaz to stop gas supplies to the troubled plant over unpaid gas bills.

She concluded that the future of Kremikovtsi is now wholly in the hands of its creditors and that the state will encourage them to enable work to keep going at the plant for as long as possible.

Earlier, state gas monopoly Bulgargaz said it will cut gas supplies to Kremikovtzi steel mill after the holidays at the beginning of May.

The distribution firm had warned it would cut off deliveries over unpaid bills, closing the smelter's major production units.

 

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Tags: Nina Radeva, Kremikovtzi, CSN, steel mill, steel-maker

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