Four Companies make a bid for the aluminium producer KAP

On Friday a court said four companies have bid to purchase various assets of bankrupt KAP aluminium plant of Montenegro. The Balkan country is making every attempt to unburden one of the important exporters who had to face a huge number of losses. The bankruptcy management officials at Kombinat Aluminijuma Podgorica have finally decided to set the total value of company assets as well as the land up for sale at a price of 54.5 million euros.

Getsales Ltd, a London –based company offered an amount of 5,100 euros for the main production facilities of KAP outside the capital city Podgorica and have pledged to invest an amount of 700 million euros. Another local big firm, Montenegrin Uniprom has offered a sum of 28.5 million euros to buy a major part of the assets of KAP. Politropus Alternative, another big local name in Montenegro has offered an amount of 450,000 euros for a small part of the assets. A sum of 178,000 euros has been offered by Serbia’s Alemani Trade for 22 factory wagons, a Reuters report says.

Uniprom, owned by Veselin Pejovic, a company from Niksic was the first company to submit such a proposal to bid. It has offered an amount of 28, 5 million EUR for KAP’s property, in two installments. A source from Uniporm said, they have plans to hire around 300 workers. Uniprom offers a total amount of 30 euros per MW for their power supply and invests about 76 million to achieve a target of producing 120 thousand tons of liquid aluminium and also 30 thousand tons of other secondary metals until the year 2018. According to a report by RTCG, Uniprom has offered to bid for almost all of KAP’s propert, except the cathode waste landfill and red sludge.