Even after two requests, the Swiss company "8B Capital", which leased the Nikšić Steelworks, Steelworks and Forge, failed to fulfill its contractual obligations for 2024 and pay the monthly rent of 31.000 euros.
"The tenant was obliged to settle the obligations under the contract for 2024 by March 25. At his request, due to technical difficulties related to the company's registration in Montenegro, Elektroprivreda extended the deadline for an additional ten days. Both deadlines have now expired and we are currently awaiting action on our last letter sent as a reminder." Igor Chamiz "for compliance with contractual obligations. We will know the exact status of the lease agreement very soon," the Electric Power Company of Montenegro (EPCG) told "Vijesti".
On January 20th of this year, the Swiss company registered a subsidiary, "8B Capital Montenegro", and appointed Igor Šamiz as its executive director.
The tenant's obligations, regarding the rent of 31.000 euros and the monthly takeover of 25 workers, a total of 150 in six months, have been in effect since October 1. So far, according to EPCG, he has paid two installments and fictitiously taken over only 13 workers, because EPCG is still fulfilling its obligations towards them.
"If the lessee fails to comply with its contractual obligations, EPCG will consider further steps to protect its interests. It is important to note that EPCG has not suffered any material damage on this basis so far, as the lessee has not taken over the facilities, and the payment refers to the start of use of the facility," the state-owned energy company said.
These EPCG - Nikšić Steel Works plants are still used by workers there, who produce concrete blocks and steel structures for the needs of solar power plants for the parent company.
Executive Director of EPCG Ivan Bulatović He recently told TV Vijesti's "Boje jutra" that the long-term survival of the Steel Plant is impossible without steel production and that, if the tenant does not fulfill its obligations for last year, EPCG has a backup plan B. He also stated that the debt figure is around 250.000 euros for last year, while EPCG did not specify to "Vijesti" the amount of the debt.
"Plan B, which was mentioned earlier, implies an alternative asset valuation model, which includes the activation of own capacities and the possibility of strategic partnerships with other investors. The public will be informed about this plan in a timely manner, if the existing contract is terminated," EPCG responded.
The contract that the company “8B Capital” signed with EPCG, envisages an investment of 36,85 million euros over the next five years. They also announced the production of steel after the first year of 2.000 tons per month, and after five years, the production is projected to be 3.500 tons. Šamiz was already part of the ownership structure in the Steel Plant, 20 years ago, when he had 33 percent of ownership in the “Midland Group”, which in June 2004 bought the majority stake in the Steel Plant for one thousand euros. The group was obliged to invest 30 million euros in the factory within five years, but in November 2006 they left the Steel Plant and, as the Government announced at the time, owed the state more than 2,7 million euros in taxes, and the factory’s losses increased to over 12 million euros.
"During communication with EPCG, Šamis expressed his intention to start production and submitted contracts for the purchase of equipment worth several hundred thousand euros," claim Elektroprivreda.
During a recent visit to the Steel Mill, the Prime Minister Milojko Spajic, he said that the Swiss company that leased the production facilities from the beginning of the lease agreement did not meet any of the conditions from that document, that he had no contact with that company, but that the state administration had contacted the company's representative, Igor Šamiz.
"They tried to initiate, to motivate this cooperation somewhere. However, we are all witnesses that it does not exist and that despite warnings and despite various steps we are taking towards the concessionaire, no positive steps have been seen so far. This is worrying, but there is also a contract that specifies exactly what can happen in such cases, so we will use all legal means as the state of Montenegro to the fullest to enable, but also to ensure that obligations are fulfilled, and if they are not fulfilled, we know what happens," Spajić said.
The Swiss company "8B Capital" was the only one to apply for all three public calls announced by EPCG for the lease of the Steel Plant, and the lease agreement was signed and notarized at the end of September last year.
"If the lessee fails to comply with its contractual obligations, EPCG will consider further steps to protect its interests. It is important to note that EPCG has not suffered any material damage on this basis so far, because the lessee has not taken over the facilities, and the payment refers to the start of use of the facility," the state-owned energy company said.
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