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Bosnia's sole alumina plant Birac resumes production
Edited by : AL CIRCLE
1 min read
A day after halting production after the Balkan country's main gas distributor cut supplies to the company over outstanding debts, Bosnia's sole alumina plant, Birac resumed production on Thursday after two agreeing to pay part of its debt to the country's main gas distributor, BH Gas.
Birac, majority-owned by Lithuania's Ukio Bank Investment Group and based in the eastern town of Zvornik, held talks with BH to seek a solution for a debt of 22 million Bosnian marka ($13.8 million). It had warned the plant was at risk of closing for good, putting its 1,900-strong workforce out of work.
Birac has been struggling due to falling prices for aluminium and alumina on the world market and a rise in the price of gas.
Birac, majority-owned by Lithuania's Ukio Bank Investment Group and based in the eastern town of Zvornik, held talks with BH to seek a solution for a debt of 22 million Bosnian marka ($13.8 million). It had warned the plant was at risk of closing for good, putting its 1,900-strong workforce out of work.
Birac has been struggling due to falling prices for aluminium and alumina on the world market and a rise in the price of gas.
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