WORKING GROUP TO ASSESS ECONOMIC STATE OF STEEL MAKER KREMIKOVTSI

Business | February 11, 2002, Monday // 00:00

А working group made up of representatives of eight institutions and steel maker Kremikovtzi is to asess the economic state of the company in less then 30 dyas, Valentin Zahariev, Kremikovtzi Executive Director, announced. The decision has been taken by Deputy Prime Minister and Economy Minister Nikolay Vassilev, Finance Minister Milen Velchev, Kremikovtzi Executive Director and representatives of the company’s major creditors. The two departments, the National Insurance Institute, Bulgargas, National Electricity Transmission Company, Privatization Agency have been invited to appoint members in the working group. Deputy Economy Minister Nikola Yankov has been elected chairman of the working group. The Finance and Economy Ministries will appoint one representative each to join the managing council of the plant. On February 8 Valentin Zahariev said the steel plant will pay off all BGN 2,5 M of liabilities till February 28. On February 6 exports of Kremikovtzi steel works worth more than BGN 15 M were stopped by the Bulgarian Customs, because of outstanding liabilities. Later the Bulgarian Customs started to unblock all ships and transport destinations of products, addressed to Kremikovtzi steel maker with an order of Customs Agency director Emil Dimitrov, which came into effect at 12 p.m. February 8.
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