The workers of Bulgaria’s bankrupt steel mill Kremikovtzi are awaiting delayed salaries and social security payments totaling BGN 56 M.

This has been found by the Mission for protecting the rights of the workers at the plant set up in October 2009, as cited by the Sega Daily.

The salaries and welfare payments are due for the period from December 2008 until September 2009. However, the factory is not legally liable for the delay since its management has obeyed the legal provisions which say that at least 60% of the salaries must be paid out without delays.

In addition to the above sum, another BGN 9,4 M of compensations under the Collective Labor Contract have also been delayed.

Over 3 000 workers have been dismissed or have left the Kremikovtzi plant, which used to be Bulgaria’s largest steel-maker. A total of 3 171 workers are still employed at the factory located outside of the capital Sofia.

The fate of the bankrupt plant, which according to some reports is the victim of a long-time draining scheme and general mismanagement, is still unclear as its bondholders are to decide in November on the proposed recovery plan.

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