Bosnia Mostar aluminum plant extends bidding deadline

Muslim-Croat federation extended the deadline of Aluminij Mostar's private offer by three months to May 8, 2008. The plant is the only aluminum smelter in Bosina. The government plans to sell 88% stake of the plant. Stipo Buljan, Secretary of Energy Department said, it is to further settle sale terms for best bidders. The government set the lowest value of the stake at 76.80 million Euros(112.5 million dollars.) The syndicate formed by Sweden's Glencore International, local companies and Croatia companied is now in trouble with environmental protection problems. The government said that it is waiting for the statement of the syndicate. If it refuse to conform to the pre-environment requirement, the acquisition committee will talk with other bidders. The other bidders includes En+ group in England, Greece metal, energy and engineering group—Mytilineos. Aluminij Mostar produced 121,750 tonnes aluminum in 2007, with a new record in the history, and the export revenue totaled to 240 million Euros.