Kosovo: IMR/Alferon to soon carry out investments in Ferronikeli

Prishtinë, Jan 11, 2006 – The Company IMR/Alferon should carry out its contractual obligations concerning the privatisation of Ferronikeli and also begin investment and employment process, Kosovar media report. Based on the agreement signed between IMR/Alferon manager for Kosovo, Johannes Sittard and the Head of UNMIK Pillar IV, Joachim Ruecker, the buyer is obliged to carry out all the contractual obligations toward the KTA and the Kosovo Government in the period of two months after contract signing.

The IMR/Alferon had bought Ferronikeli at the amount of 33 million € and has committed to invest 20 million € and employ 1,000 workers within a period of three years. More precisely, the first year is expected to see five million € investments, ten million € at the second year and additional five million € in the third year. The company os expected to employ 500 workers are to be employed within a year of its commencement.