Bulgaria Economy Ministry Extends Kremikovtzi Life by 2 Days

The Bulgarian Economy Ministry has decided to extend gas supply to the troubled steel mill “Kremikovtzi” in order to see the end results of the negotiations with the Brazilian metallurgy giant CSN. Photo by Sofia Photo Agency

The gas supply to Bulgaria's dying "Kremikovtzi" steel mill will be extended with another 48 hours.

The information was announced by the Bulgarian Economy Ministry late Monday, despite the fact that the May 12 supply cut was announced before the May holidays.

The Ministry informs that the mill's assignee in bankruptcy, Tsvetan Bankov, has requested the extension.

The goal of the latest delay is the possibility to keep the plant's coke production running in order to conclude possible negotiations for the coke facility purchase.

In case the negotiations fail, the gas supply will be cut by "Bulgargaz" on May 14.

The Deputy Economy Minister, Nina Radeva, told Darik radio that the Brazilian metallurgy giant CSN remained interested in signing a contract with Kremikovtzi thus the second extension by "Bulgargaz". The first one was granted in April.

 

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