June 21 (SeeNews) - Kosovo's NewCo Ferronikeli said on Wednesday it resumed production at the ferronickel plant in Drenas after a more than two-year hiatus caused by energy issues.
“For a long period of time, we committed to establishing a rebound strategy. We focused on energy management, energy efficiency and production technologies”, general manager Cemil Acar said during the reopening ceremony, as seen in a social media video.
NewCo Ferronikeli employs 1,000 people, Acar said.
NewCo Ferronikeli was shut down in April 2021 while still under the management of Albania-based group Balfin, chiefly due to the surge in energy prices, local media reported at the time. The company had been running at financial loss for several months prior to the closure, despite a 30 million euro ($32.7 million) investment which improved production efficiency, Balfin has said.
In September 2022, Balfin said it had transferred the entire ownership of the ferronickel plant to Turkish conglomerate Yildirim.
($ = 0.915393 euro)