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Feb 07, 2017 13:11 EEST
BANJA LUKA (Bosnia and Herzegovina), February 7 (SeeNews) – Bosnian aluminum smelter Aluminij said it has proposed to the state-level government to abolish the import tax on unalloyed aluminium to save production costs and boost output.
Aluminij could melt 25,000 tonnes of unalloyed aluminium annually by using fuel gas instead of expensive electricity, the company said in a statement on Monday.
This would boost the company's output by 30% and secure the state an additional $50 million (46.9 million euro) in exports, Aluminij noted.
"Currently, no one is importing unalloyed aluminium so funds are not being raised. If the state were to abolish its customs duty on this material, Aluminij could be the engine of economic development in Bosnia," the company said.
The smelter recently signed an electricity supply deal with Bosnian state-controlled power utility Elektroprivreda BiH (EPBiH) for 2017. Aluminij was previously supplied by another Bosnian power utility, Elektroprivreda HZHB, towards which it had piled up huge debts.
The government of Bosnia's Federation owns 44% of Aluminij, as much is controlled by workers and minority shareholders, while the Croatian government holds a stake of 12%.
Aluminij is based in Mostar, in the Federation, one of the two autonomous entities that form Bosnia and Herzegovina. The other is the Serb Republic.
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