OFZ is investing in Angola and Uzbekistan

Ferroalloy producer OFZ (Vladimír Klocok) fully halted production in Oravský Podzámok last year, mainly due to high electricity prices. It signed an agreement with the Angolan government committing to invest €100m in a plant near a local hydropower station. Construction of a facility with capacity similar to the original Slovak plant is planned to start in 2027, with Angola offering electricity at one-fifth of Slovak prices for 15 years as well as tax incentives. OFZ plans to launch production in Uzbekistan in August, at roughly one-tenth of the Angolan capacity.

(sme.sk)