Bulgaria’s Ministry of Economy, Energy, and Tourism is going to start investigating the causes of the bankruptcy of the country’s largest steel plant Kremikovtzi.

This was announced by Labor Minister, Totyu Mladenov, after Thursday’s meeting of the inter-agency group for Kremikovtzi. The issue will be considered by the National Council for Tripartite Cooperation next week.

The group includes representatives of the Labor Ministry, the Economy Ministry, the Finance Ministry, the Environment Ministry, the National Revenue Agency, the trade unions, and the bondholders of the plant.

“It is crucial that the three production units that are still in operation at Kremikovtzi and employ 3 200 workers continue to work. Otherwise, the consequences for the Bulgarian economy will be really grave,” Minister Mladenov said.

He also made it clear the talks about the fate of the Bulgaria’s largest steel-maker, which was declared bankrupt in September 2008, would continue, and expressed his hopes that the government would come up with the best solution for the factory by the end of October.

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