Lukavac GIKIL workers protested in Tuzla: Indian investor only indebts the company

Around 300 workers of GIKIL (Global Ispat Koksne Industrije Lukavac) held a peaceful protest in Tuzla, due to the unresolved ownership structure in the company.

The majority owner of the company, which employs around 1,000 workers, is the Government of FBiH. The Indian GSHL (Global Steel Holdings Ltd.) is also mentioned as a co-founder. Workers claim that GSHL manages the company, but that they have never fulfilled their contractual obligations after entering GIKIL in 2003. On the contrary, the company is sinking into ever-increasing debt.

Instead of an investment of around 40 million KM, GSHL has burdened GIKIL with loans, and mortgaged the company's assets. GSHL also presented raw materials, allegedly purchased from their own companies, as an investment in GIKIL.

Workers announce that they will soon travel to Sarajevo for protests if the authorities do not conduct an inspection at GIKIL, writes NAP.