Only when the Swiss company "8B Capital" settles its obligations regarding the lease of the former Steel Plant, which relate to the payment of rent and the debt for the transfer of employees, will it be possible to discuss the modification of the contract that Elektroprivreda (EPCG) terminated with that company in May due to non-compliance with contractual obligations.
This was answered to "Vijesti" by the Ministry of Energy and Mining, which is headed by the Minister Admir ŠahmanovićAs explained by a representative of the company “8B Capital”, Igor Shamiz, had a meeting with the management of this department, which was also attended by the executive director of EPCG Ivan Bulatovic.
"During the meeting, Šamiz presented a request for modification of the existing lease agreement for the former Steel Mill. He was clearly informed that the room for intervention is very limited at this time. The agreement in question must be respected, regardless of the business or development ambitions of any individual investor. Minister of Energy and Mining Admir Šahmanović explicitly emphasized that the prerequisite for any continuation of the talks is the settlement of the due liabilities of the company '8B Capital' and the provision of adequate financial guarantees, in order to ensure the seriousness of the intention and the possible continuation of the implementation of the existing agreement or consideration of signing its annex," the Ministry of Energy said.
In May, Elektroprivreda terminated the contract with the company "8B Capital" because the tenant did not fulfill its obligations related to paying rent and the debt for the transfer of employees.
The energy company previously said that they had issued seven invoices for payment, that the debt for the lease was 223.000 euros plus VAT, and the debt for the transfer of employees was 644.000 euros.
EPCG sent Šamiz a notice of unilateral termination of the contract on May 8, but the notice was not received. Therefore, they sent him another notice of termination, which he received on May 26, and from that time on, a 45-day period begins to run in which he must settle his obligations under the lease and the assignment of workers. In the meantime, Šamiz has paid 40 thousand euros for the lease, a total of 100 thousand, so that he has between 650 and 700 thousand euros left to settle by mid-July.
"Although the Ministry remains open to dialogue and has a sincere intention to support all projects that contribute to the development of Montenegrin industry, the business environment must be based on legal certainty, responsibility and respect for contractual obligations," the ministry said.
The tenant was obliged to pay a monthly rent of 31 thousand euros, starting from October 1, and out of seven rents, as previously stated by EPCG, they paid only two. As for the number of workers, according to the Contract, they had to take on 150 employees in half a year, and the tenant did not take on a single one, but the salaries of the employees were paid from EPCG funds, and they were engaged in the construction of solar power plants and concrete blocks. EPCG Željezara Nikšić previously said that the workers in the last quarter of last year and the first quarter of this year were earning salaries.
Last week, during a tour of the solar panels at the Vrtac Dam in Niksic, EPCG Chairman Milutin Đukanović said that Šamiz had asked the Ministry of Energy to modify the lease agreement for the Forge and Steel Plant, and that this was within the jurisdiction of higher institutions.
"The Swiss company has not fulfilled certain obligations. There is a certain notice period. Šamiz is currently in negotiations with the Ministry of Energy to see if the contract can be modified. As for EPCG, we do not have the right to change the contract and we will act in accordance with the law. We are also ready to continue cooperation with Šamiz, if it meets certain conditions, but this exceeds the competence of EPCG. This is the responsibility of higher institutions," Đukanović said at the time.
"When it comes to the further fate of the lease agreement for the Steel Mill and Forge, this issue remains within the jurisdiction of the property owner - EPCG, which has already taken certain steps in accordance with its own assessments and competencies. The Ministry will, as before, be ready to provide support within its powers, but only in a manner that does not violate the legal and institutional foundations on which the investment environment of Montenegro is based," the Ministry of Energy said.
The contract with "8B Capital" was signed in July 2024 for a period of 50 years, and the Swiss company committed to investing 7,75 million within a year from the date of signing the contract and starting production, while in five years, as stated in the offer, it will invest 36,85 million.
"Although the Ministry remains open to dialogue and has a sincere intention to support all projects that contribute to the development of Montenegrin industry, the business environment must be based on legal certainty, responsibility and respect for contractual obligations," the Ministry of Energy said.
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