Sat, Nov 21 2009

Kremikovtzi latest: Gas supply will not be shut

Thu, May 14 2009 14:02 CET byNick Iliev 694 Views
Kremikovtzi latest: Gas supply will not be shut

The 2pm deadline on May 14 for Kremikovtzi steel plant to pay its debt to state-owned gas company Bulgargaz or face a complete stop of all deliveries has been postponed again, the Economy and Energy Ministry said in a statement.

The latest delay has been allowed after the head of one of Kremikovtzi's labour unions sent a letter to the ministry saying that the steelworks was close to securing a deal that would keep it operational and allow it to pay for the gas deliveries.

Bulgargas announced earlier in the day that the final decision has been taken to cut off the live support system at 2pm, in light of the 105 million leva debt accumulated by the plant, and the 10 million leva monthly losses suffered by the gas company and the country's state-owned power grid operator NEK.

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