Is there salvation for Aluminij: Investors from Dubai more concrete than Glencore

SARAJEVO, (Patria) - A meeting was held in the FBiH Government building with representatives of investors from Dubai who are interested in Aluminij Mostar. Workers of the Mostar company came to the FBiH Government building today seeking help after the shutdown of Aluminij was announced for Saturday. They were met by the Minister of Energy, Mining and Industry, Nermin Džindić. Samir Anić, representative of the minority shareholders of Aluminij, also attended the meeting.

Romeo Biokšić, president of the Workers' Union, and Samir Anić, representative of the minority shareholders of Aluminij, on behalf of the workers of this company who came to the FBiH Government building in Sarajevo today, previously held a meeting with the Prime Minister of FBiH, Fadil Novalić, and the relevant minister, Nermin Džindić. After the meeting, the workers headed towards Mostar.

Minister Džindić, after the meeting with interested investors, stated that today's meeting concluded without a concrete agreement, but that it was much more concrete than the one they previously held with the Swiss company Glencore. While the meeting with representatives from Dubai was ongoing, Glencore requested a new meeting with representatives of the FBiH Government.

"A strategic partner must be found by the end of the year, or Aluminij will go into bankruptcy," said Minister Džindić, who confirmed that the write-off of Aluminij's electricity debt was not discussed.

"We had a working meeting with the potential investor Emirates Aluminium. Two representatives came and spoke about where they see Aluminij. As for Emirates Aluminium, which includes two large corporations and has extensive experience and a global market, the proposed concept is to conduct a financial and technical analysis," said Džindić.

He stated that Glencore had several contentious demands during the previous meeting, but that they would see what happens at the next meeting.

The workers point out that it doesn't matter to them who will be the owner of the company, as long as jobs are preserved. Aluminij's debt is around 400 million KM, and more than half of it relates to electricity consumption.

Aluminij's director, Dražen Pandža, announced on Wednesday that the Mostar factory would be shut down at the first minute on Saturday, due to enormous debts that it can no longer finance.