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Government Decision on New Kremikovtzi Investor Still Due
Business | January 21, 2009, Wednesday // 00:00
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The Bulgarian government is supposed to pick Wednesday a new Kremikovtzi investors over threats by the trade unions of more workers' protests. Photo by Yuliana Nikolova (Sofia Photo Agency)
Bulgaria's Ministry of Economy and Energy was expected but failed to pick Wednesday one of the two main bidders for the Kremikovtzi steel factory as its new investor.
The Ministry and the plant's bondholders were supposed to choose the new operator of Kremikovtzi between the Ukrainian company Smart Group and the Brazilian CSN as the trade unions had set a condition that the decision be made by January 21, or otherwise the workers' protests are going to be resumed.
As no final decision was made Wednesday, it is now expected any minute, and supposedly before the end of the work week.
With the announcement of the new investors, the first fresh supplies of raw materials are expected to be received at the factory by the end of the week, which will be used to restore its production.
Kremikovtzi's manufacturing operations have also been reduced tremendously because of the shortage of natural gas that Bulgaria experienced as a result of the Russia-Ukraine gas dispute.
Bulgaria's Energy and Economy Minister Petar Dimitrov has promised that the first larger gas supplies the country would get on Wednesday would used to fuel up the metallurgical and fertilizer factories.
The Ministry and the plant's bondholders were supposed to choose the new operator of Kremikovtzi between the Ukrainian company Smart Group and the Brazilian CSN as the trade unions had set a condition that the decision be made by January 21, or otherwise the workers' protests are going to be resumed.
As no final decision was made Wednesday, it is now expected any minute, and supposedly before the end of the work week.
With the announcement of the new investors, the first fresh supplies of raw materials are expected to be received at the factory by the end of the week, which will be used to restore its production.
Kremikovtzi's manufacturing operations have also been reduced tremendously because of the shortage of natural gas that Bulgaria experienced as a result of the Russia-Ukraine gas dispute.
Bulgaria's Energy and Economy Minister Petar Dimitrov has promised that the first larger gas supplies the country would get on Wednesday would used to fuel up the metallurgical and fertilizer factories.
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