News Column

Ukrainian-owned Politropus Alternative to restart amluminium processing plant in Montenegro in autumn 2014

January 22, 2014

The owner of Politropus Alternative - Ukrainian businessman Roman Denkovich , said the company could restart in the autumn the aluminium processing plant it bought earlier this month for EUR 1.9mn in the assets sale of Montenegrin bankrupt aluminium processing firm Prerada, radio station AntenaM reported. Apart from the Prerada unit, Politropus also participated in the assets sale of aluminium smelter KAP and as a result KAP's bankruptcy administrator has agreed to sell it KAP's red mud basin for EUR 100,000 , its institute for aluminium research and development for EUR 200,000 as well as a land plot for EUR 150,000 . Politropus is still in talks with the bankruptcy administration on the purchase of KAP's assets and hopes to sign a final contract in the first half of February, Denkovich said, speaking to daily Dnevne Novine. Politropus, which was established in Montenegro in 2010, plans to produce construction material from the red mud basin. It intends to engage over 300 workers within a period of four years and invest more than EUR 50mn in the project, including the construction of a facility for recycling technogenic waste and for red mud remediation. In a separate interview given to daily Vijesti, the Ukrainian investor said the recycling plant, which will be built in four years, will produce three types of construction material. This will be very strong and good insulation material, which does not absorb water. The produced material and the used technology will be harmless for the human health, he assured, adding the technology is certified by the Russian health ministry. Furthermore, during the waste recycling process iron of good quality will be separated and sold on the market. Regarding the aluminium processing line he bought from Prerada (a former KAP unit), Denkovich said he plans to renovate the production line, which is not in a good shape, and buy a new one. The new equipment will be purchased in the coming four-five month to accommodate the start of production later this year. Politrpopus also plans to as soon as possible renovate the aluminium research institute and start exploring for new material and energy. Denkovich said he expects the biggest challenge in implementing the project to be educating the young generation in Montenegro to get involved in science and gain expertise. He said all interested Montenegrins will get jobs and will receive help from Ukrainian, Russian and other foreign experts. In the Vijesti interview, Denkovich also said that apart from the mentioned investments he has also bought land on the Adriatic coast close to Bijela, where he plans to built a five-star hotel (since there are only thre- and four-star hotels in the area). The start of this project is now awaiting a construction permit.

For more stories on investments and markets, please see HispanicBusiness' Finance Channel

Source: IntelliNews - Weekly Reports

Story Tools