Aluminum smelter Slovalco can resume production this summer

Aluminum smelter Slovalco can resume production this summer if the government commits to a €50m annual subsidy in the form of emission‑allowance refunds, said CEO Milan Veselý. Without the subsidy, it will shut down its current recycling line. Slovalco, which consumes about 8% of Slovakia’s electricity at full production, halted primary aluminum production in 2022 due to high energy prices and low aluminum prices. A restart will also require a long‑term commercial electricity contract. Shareholders Norsk Hydro (55%) and Penta (45%) are open to state getting a stake in return for the subsidies.

(dennikN.sk)