DUSHANBE, December 23, 2013, Asia-Plus — In a report released at a briefing in Dushanbe, the Tajik Aluminum Company (TALCO) Chief Financial Executive Sherali Kabirov revealed on December 23 that TALCO will be reorganized into a joint-stock company within the next few years.
We will recall that Tajik government endorsed the plan for restructuring the Tajik Aluminum Company in April this year and the restructuring process is expected to end in 2014.
Under the restructuring plan, the State Unity Enterprise TALCO, the State Affiliated Enterprise Aluminsokhtmon and its lower enterprises will be divided into several enterprises and the government will assumes the 100 percent ownership in them.
The restructuring plan reportedly also includes construction of enterprises for production of cryolite and aluminum fluoride, conducting feasibility study for construction of Shurob hydroelectric power plant (HPP) and evaluation of technical re-equipment of production.
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.
Over the first eleven months of this year, TALCO’s share in Tajikistan’s exports has reportedly amounted to 36 percent.
