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Wednesday, February 21, 2018, 

Feni plant reopens

Feni plant reopens

Skopje, 2 February 2018 (MIA) - Kavadarci-based ferro-nickel plant Feni Industries is to reopen after the Board of Creditors decided to conclude an agreement over processing of nickel ore with the sole bidder, GSOL, for a minimum monthly deposit of EUR 1,2 million, the Board said on Friday.

The board says the plant's reopening would create conditions for creditors to collect their outstanding claims at a higher percentage, which is the basic objective of the bankruptcy proceedings.

According to the board, the agreement is also important for employees, who will take up their jobs.

The Veles court approved on 29 November 2017 the opening of bankruptcy proceedings in Feni, which has outstanding liabilities in the amount of EUR 60 million, of which EUR 40 million to Komercijalna Banka-Skopje, Stopanska Banka-Skopje and Silk Road Bank-Skopje.

"Feni Industries" has about 1,000 employees. ik/11:08

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