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Alro's Nastase: Out of green certificate, cogeneration fees two industrial factories could be made
Alro Slatina has to pay this year 70 million US dollars in co-generation and green certificate fees, an amount that could be used to make two industrial companies, Chairman of the Administration Board of Alro Slatina aluminium maker Marian Nastase recently told Agerpres.
'This is a burdening fee because we have to pay this year 23 million US dollars in cogeneration fees, plus 47 million US dollars in green certificate fees before the approval of the emergency ordinance concerning the establishment of a system for the promotion of energy from renewable sources. This makes 70 million US dollars, a huge amount that could be used to create two industrial factories,' said Nastase.
He added that without the two fees, Alro would have no trouble.
'We do not have the money to pay. Since we do not have the money, I do not know exactly what will happen, but I presume the National Energy Regulatory Authority (ABRE) or other state institution will show up to close down the company. Since we do not have the money to pay, Alro will probably enter insolvency procedures or go broke. Without this subsidy of the green certificate and a cogeneration fee, Alro would have no troubles,' said Nastase.
He added that the Alro works is a significant tax payer, with money paid in taxes to the national budget having neared 800 million US dollars.
'We are a significant tax payer. We are a significant employer. Alro currently has 3,300 direct employees and the horizontal effect adds to 60,000 people, Alro pays between 40 and 50 million US dollars to the national budget each year. Over the past years, we have paid nearly 300 million US dollars. We are current on our liabilities,' said Nastase.
Alro SA is the biggest aluminium maker in Central and Eastern Europe, except Russia.
The company is part of the international industrial and investment group Vimetco N.V. operating in the aluminium industry. Shares in Alro are traded on the Bucharest Stock Exchange (VBV).
The aluminium making facilities are located in Slatina, comprising an electrolytic section, processing units, a foundry, hot and cold mills and an extrusion section. It is also the owner of the alum factory Alum SA of Tulcea.
Shareholders in Alro are Vimetco N. V. Amsterdam, with an 84.1898 per cent stake; Fondul Proprietatea - 10.2111 per cent, and oher investors - 5.5991 per cent.