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Ferroalloy producer OFZ is moving part of its production to Uzbekistan

Ferroalloy producer OFZ (Vladimír Klocok) is moving part of its production to Uzbekistan. With the help of local partner Uz-Shindong Silicon, it is going to invest up to €20m and employ 100 people there. Last year, it stopped production in six of the seven furnaces in Orava and kept only 100 of 350 employees, due to high energy prices and lower demand. Last year, it posted a relatively small loss of €1.9m, thanks only to the sale of emission allowances for future years. It plans to start production in Uzbekistan in October, gradually moving three furnaces from Orava there. The main advantage of Uzbekistan is the one-third price of electricity, and the absence of a market for emission allowances is also a plus. Imports from this country to the EU will be subject to a carbon tariff from 2028.



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Táto správa je z Ekonomiky DNES, denného prehľadu najdôležitejších ekonomických správ zo Slovenska.

This news is from the Slovak Business News TODAY, one-page summary of all the important Slovak business news.

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