BYPASS Aluminij d.d. Mostar remains on the power grid for the next week

Aluminij Mostar

Aluminij d.d. Mostar, less than an hour before the expiration of the deadline for the application of the new "Timetable" to the Independent System Operator in BiH, managed to negotiate an supply of the electricity for the factory for the next week, buying an important time to survive to the key steps that must be taken by the Government of the Federation of B&H.

- Conversations with our partners and suppliers do not stop, our teams almost do not leave Aluminij, since Friday. With the ability and strength of our expert team, in this era of crisis management, we have secured another week of life. Our subsidiary, AL Trade, remains our supplier. However, this is just a short-time solution, we are still in critical terms in the long run, illiquid and unable to continue to bear financial burdens under these stock market conditions, i.e. in the circumstances of historically the highest price of el. energy and alumina. The FBiH government at the session on Friday, which we hoped would be held earlier, must make vital decisions, or the crash of Aluminij is postponed only for today - commented Acting Director of the Company Dražen Pandža, thanking the local business partners without whom the agreed arrangement could not be implemented.

We remind that IOS BIH had to give an order last night to Elektroprivreda BiH to disconnect Aluminij of the power grid, primarily because of the absence of a supplier of the Mostar factory since October 15th. Yesterday, Aluminij managed to buy an additional 24-hour, one-day contract for the purchase of electricity, and today, at the last minute, a supply for one more week was agreed.

- The hard struggle continues, both in front of our distressed employees, worried business partners, and in front of the public, we have to continue to put heavy pressure on the entity authority, as it is obliged to fulfil its obligations under Annex 8 to our mutual agreement. This strengthens subsidies for our procurement of the electricity so that we can continue to breathe, survive and stabilize the factory - said Pandža.

Aluminij still hasn’t received official response from the FB&H Government.

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