Investments worth EUR 18 will create 400 new jobs

Podgorica, Montenegro (18 January 2017) -- Uniprom KAP company, the owner of the Aluminium Plant Podgorica (KAP), has invested over EUR 10 million in improving the company’s production capacity, and there are strong beliefs and guarantees that the owner will invest further EUR 18 million in the time to come, Economy Minister Dragica Sekulić told the press following her visit to the Aluminium Plant.

"This means both improving the primary production in the KAP and the opening of a number of manufacturing plants that will lead to the production of semi-finished products. This way, we will get the company that, apart from exporting raw materials, will also export a number of semi-finished products from Montenegro," she explained.

During her visit to the company, Minister Sekulić said that the Uniprom KAP is a factory that operates on market principles and employs a large number of people who receive regular salaries, the company pays taxes and contributions regularly, and does not depend on the Government’s assistance.

She added that working conditions in the company have significantly improved over the past two years.

Owner of Uniprom KAP Veselin Pejović said that the company has already signed contracts with two companies, namely for the overhaul of the existing silumin factory, an investment worth EUR 6 million, and the construction of a new billet factory worth EUR 12 million.

The opening of the two new factories, in Mr Pejović’s words, also means job creation.

"These two new factories should create between 300 and 400 new jobs," he stressed.

He added that about 200 companies are linked to the KAP, and that the two largest companies with which they cooperate are the Port of Bar and Montecargo from Podgorica.

"Current production in the KAP is about 3,200 tons per month. By August, we plan to finish the overhaul of the Electrolysis B, when we will have a production of about 5,200 tons per month," Mr Pejović concluded.