DUSHANBE, January 29, 2013, Asia-Plus — The State Committee for Investments and State-owned Property Management (GosKomInvest) has sent a plan for reconstructing the Tajik Aluminum Company (TALCO) for consideration to the Government, GosKomInvest head Davlatali Saidov told journalists on January 28.
“If there are no any shortcomings, the restructuring of the Tajik aluminum company will start this year,” Saidov said.
“As a result of the restructuring process that is expected to last until 2015, TALCO will be divided into several enterprises for production and processing of primary aluminum,” Saidov said.
According to him, the last stage of the restructuring will be reorganization of TALCO into open joint-stock company (OJSC) and the government will assumes the 100 percent ownership in it.
We will recall that Tajikistan’s aluminum exports over the first ten months of 2012 fell to 221,500 tons, which is 12,300 tons fewer than in the same period in 2011. The country’s aluminum exports reportedly declined due to the fall in the international aluminum prices.
The aluminum plant, run by the Tajik Aluminum Company (TALCO), was launched in late March 1975. It is one of the ten largest aluminum smelters in the world and provides up to 70% of the country’s foreign currency earnings, consuming 40% of the country’s electrical power. Tajikistan does not mine alumina but imports the raw material through tolling arrangements.
