Bosnia seeks to prevent the closure of the largest aluminum plant

Bosnia authorities seek to prevent the closure of Aluminij Mostar aluminum plant, which occupies the first place in the export of the country. They made a proposal to resolve the structures of property and solve the problems that have arisen. Officials said that the agreement could be signed in the near future, although negotiations seemed to be constantly conducted.

The plant in the southern city of Mostar announced last week that he was going to complete the work due to high tariffs for electricity and low metal prices. And this will lead to the loss of thousands of jobs and will cause a heavy blow to the dying economy of Bosnia. Aluminij Mostar is the basis of Bosnia's metallurgical sector, which accounts for more than half of national production.

In accordance with the agreement, the government of the Bosnian-Khorvat Federation and small shareholders will receive each of 44 percent of the shares of the plant. The remaining shares will go to the Croatian TLM, which introduced $ 9 million in 1997 to restart the production of Alminij Mostar, which was destroyed during the Bosnia war in 1992-1995.

The agreement will also resolve issues related to 3,500 former employees, mainly Bosnian Muslims who were dismissed after the war. The Bosniy Energy Minister said that the government did not have a power over the price of electricity supplied to the plant, but it was ready to consider the issue of subsidies. After signing the agreement, the government is going to register the property structure in the securities register within the next 10 days.