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Kremikovtzi Ends One More Week without Investor

Date: 30.01.2009

The current week is going to end without a designated strategic investor for the Bulgarian troubled steel mill Kremikovtzi, Nina Alexandrova, Deputy Economy Minister said.

Alexandrova confirmed that a Sheik from Oman had expressed interest in the Mill, but after finding out about the enterprise's state decided to not go ahead with any offer. According to the Deputy Economy Minister, the Brazilian metallurgy giant CSN and the Ukrainian Smart Group continue to be the only two potential candidates.

Both companies have hired lawyers and consultants in Bulgaria to prepare documentation for the eventual purchase of the Mill.

"I have never made a commitment to a particular date or deadline. No one has a fixed deadline to give an answer. I have no idea how you envision that answer," Alexandrova said.

When asked about the mass protest rallies planned by the Kremikovtzi Trade Unions for February 3, the Deputy Economy Minister said that this was the Union's responsibility.

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