Montenegro Aluminum Smelter Shutting Down, Higher Power Costs Blamed

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Researched by Industrial Info Resources (Sugar Land, Texas)--Uniprom KAP's Podgorica Aluminum Smelter in Montenegro began to close down on December 15, with the company pointing to higher electricity costs as the cause.

The shutdown of the 120,000-ton-per-year facility will continue through next week, resulting in the cancellation of two projects: an aluminum slab casting unit addition planned for 2022, and a wire, boards and profiles unit addition planned for 2024. Subscribers to Industrial Info's Global Market Intelligence (GMI) Metals & Minerals Project Database can click here for the project reports.

Uniprom Owner and Chief Executive Officer Veselin Pejovic blamed the closure on higher electricity costs set to take effect on January 1, according to news media reports. Pejovic said state-controlled power utility Elektroprivreda Crne Gore (EPCG) has proposed a price of 127 euros (US$144) per megawatt-hour beginning January 1, compared with the current price of 45 euros (US$51) per megawatt-hour.

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