Ministry of Economy discusses KAP aluminium plant with German HGL

Podgorica, Montenegro (7 November 2012) – Electricity supply, investment and the restarting of the processing factory in the KAP aluminium plant Podgorica were the main topics of the meeting between representatives of the Ministry of Economy and the German company HGL held on Tuesday.

A new, KAP-owned, energy source was defined as the best solution to the issue of electricity supply, which is essential for KAP’s long-term viability. It will be the basis of any future offer to take over the company, the meeting concluded.

Representatives of HGL, who have already screened the aluminium plant, are familiar with the company’s situation, and recognise the importance of the electricity supply issue. The current model of subsidising the electricity is unsustainable and that is the fact that all interested investors take into account, the meeting underlined.

The Government’s representatives informed the potential German investor about their expectations regarding investments and the launch of the processing factory. An investor who would offer a concrete proposal for resolving the most troubling issues and hiring more workers is the most desirable one for the Government, they pointed out.

HGL representatives will visit the KAP aluminium plant today.