August 16 (SeeNews) - Kosovo’s economy ministry and state-owned lead and zinc mining and smelting complex Trepca agreed on 1.13 million euro ($1.23 million) in state funding, the second installment of a total 3 million euro in subsidies for investments aiming at a financial turnaround of the complex, deputy economy minister Getoar Mjeku said.
The government has also decided to provide to Trepca a 20 million euro loan for equipment, Mjeku said in a social media post last week.
In 2022, Trepca recorded its first profitable year since 1999. It booked 1 million euro in net profit, after reporting a 1.4 million euro loss in 2021.
In May, the economy ministry and Trepca signed an agreement for the first state subsidy installment, of 1.9 million euro.
Trepca, established in 1927, produces lead, zinc, as well as machinery for metal and mining and batteries.
($ = 0.9152 euro)