Aluminium Selter’s Debt amounts 300 million BAM

April 20, 2020 4:45 PM

 

Commenting on the statement by Isaac M. Tamir, Chairman of the T. T. Abraham Group, that Mostar’s Aluminum Debt does not apply to the new Aluminum Industries company, HZHB Elektroprivreda utility company stated that the payment of the electricity consumed debt is an integral part of Aluminum’s restructuring plan.

Elektroprivreda HZ HB reminds that Aluminum’s debt to this company amounts to almost 300 million BAM and that the last payment for this debt was received by Elektroprivreda HZ HB during the last year.

“Aluminum Mostar’s debt does not call into question the survival and operation of Elektroprivreda HZ HB, as well as our development plans, but it certainly slows them down. It is known to the public that we were purchasing electricity for a customer of Aluminum in the market, which we paid for, which is why we borrowed credit from a commercial bank. The aforementioned credit is also without prejudice to the liquidity of our company. Our management actively monitors the situation in Aluminum and, as before, takes all the actions required by law, and the payment of the debt is an integral part of the restructuring plan of Aluminij Mostar,” is stated in the written response of Elektroprivreda HZHB submitted to Fena news agency.

On April 8th this year, Aluminum Industries, a subsidiary of M.T. Abraham Group and Aluminum Mostar have signed a lease agreement for the Mostar company.

 

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