Bulgarian Kremikovtzi Gas Cut Delayed by Week

Business » INDUSTRY | April 6, 2009, Monday // 17:00
Bulgaria Bulgargaz Delays by Week Bulgarian Kremikovtzi Gas Cut: Bulgarian Kremikovtzi Gas Cut  Delayed by Week Kremikovtzi future looks increasingly gloomy amidst workers' rallies over pay and the pulling out of investors. Photo by BGNES

State gas monopoly Bulgargaz said on Monday it would not cut gas supplies to Kremikovtzi for one more week, the steel mill executive director announced.

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

Kremikovtzi future looks increasingly gloomy amidst workers' rallies over pay and the pulling out of investors.

Executive Director Plamen Stoyanov denied reports that Brazilian CSN, the only potential bidder for Bulgaria's insolvent Kremikovtzi steel mill, has confirmed it is no longer interested.

In his words gas deliveries will be conditional on the final outcome of the negotiations with the Brazilian giant for a tolling deal to buy coke from Kremikovtzi.

"Talks are expected to be wrapped up in a week a week," Stoyanov said.

 

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Tags: Kremikovtzi, Bulgargaz

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