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Montenegrin steel mill Toscelik Niksic denies reports on blocked accounts - govt

Author Radomir Ralev
Montenegrin steel mill Toscelik Niksic denies reports on blocked accounts - govt Toscelik Niksic; Source: Tosyali Holding

PODGORICA (Montenegro), July 5 (SeeNews) - Montenegrin steel mill Toscelik Niksic's CEO Guray Guzeler has denied the media reports that the company's bank accounts have been blocked over unpaid debts to suppliers, the country's economy ministry said. 

The bank accounts of Toscelik Niksic have not been blocked and the company plans to repay its debt to suppliers shortly, Guzeler said during a meeting with a government official, as quoted in a statement by the economy ministry on Tuesday. 

The situation at Toscelik Niksic is stable and all obligations towards the employees of the company are being met, Guzeler said. 

Montenegrin daily Vijesti reported earlier on Tuesday that the bank accounts of Toscelik Niksic were blocked over overdue debts worth 1.2 million euro ($1.36 million) to local company Kosanovic.

The Montenegrin government sold the Zeljezara Niksic steel mill, now Toscelik Niksic, to Turkey's Tosyeli Holding for 15 million euro in 2012. 

Tosyeli Holding's subsidiary Toscelik, the direct owner of the plant, is among the companies that have won a tender for the supply of steel pipes for the Trans-Anatolian Natural Gas Pipeline (TANAP) project for transporting gas from Azerbaijan to Europe via Turkey.

($ = 0.8825 euro)

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