KHUJAND, November 14, 2008, Asia-Plus — The Sughd-based open joint-stock company, Leninabad Rare Metals Plant (LRRMP), has decreased production volumes, Asia-Plus has learned from the LRRMP director Mahmoud Kholiqov.
According to him, they have taken such a measure in order to not work at a loss (part of shipped product, which is currently stored in warehouses in Rotterdam, has not yet been realized and). The enterprise currently works at only 35 percent of its capacity, he said.
“In October-November, the enterprise has run erratically, however, we have managed to produce the planned volume of output,” said Kholiqov, “Now, the problem with realization of the product has arisen.”
“Prices have dropped and if we realize our products now we will incur losses. Therefore, we will have to wait until prices are stabilized,” the director said, noting that they were currently negotiating with possible partners in Uzbekistan.
He added that 167 employees had been dismissed on grounds of redundancy.
Leninabad Rare Metals Plant (LRMP), located in the settlement of Choruk- Darron, which is 20 kilometers away from Khujand, produces ferrosilicon.
The enterprise owner is Austria’s Stork Group belonging to Indian national Rathal Gjugendra Singh (phonetically spelled).
The plant was established during the year 1942 and was one of the biggest vanadium and molybdenum based master alloys producer during the Soviet period. After the collapse of Soviet Union, it had to undergo certain changes. Currently it is specialized in the production of: Ferrovanadium (FeV), Ferromolybdenum (FeMo), and Ferrotitanium (FeTi). Technical know-how, expertise and production facilities of the plant are intact and can allow producing many special alloys.
Stork Group companies were established at the end of 80’s as trading companies for consumer and industrial products and evolved into minerals, metals and heavy engineering goods trading group. Later on by mid-90’s, it entered into production ventures by acquiring substantial stakes of the following producers: JSC Uralredmet (Russia); JSC Chernyshikhinski Meat Processing Plant (Russia); Volnogorsk Zirconium Refractories Plant (Ukraine); TransInvestService Ltd. (Ukraine); Leninabad Rare Metals Plant (Tajikistan); and Bothli Tradе A. G. (Switzerland).
