The Tajik government intends to purchase the Sozidaniye Business Center and the Hyatt Regency Hotel that are located in Dushanbe from Russian aluminum giant, United Company Russian Aluminum (Rusal). The sides have reached an agreement and the Tajik Aluminum Company (TALCO) will pay Rusal around $150 million over a 10-year period. Meanwhile, a source familiar…
The Ministry of Finances has admitted that while preparing the Tajik Aluminum Works 2010-2015 and H1 2016 operational results review it has made some mistakes. “In particular, export-import operations were stated in the company profits that have nothing to do with the company financial activity and, thus, cannot represent its financial state”, the ministry said.…
The Tajik Aluminum Company still experiences the aftermath of the emergency electricity cut off and calculates losses. “On October 28, because of the electricity cut off in some regions, TALCO was left without light”, information department director Igor Sattarov reported. In September the company operated 303 electrolysis baths. TALCO specialists believe that the electricity cut…
In connection with being shifted to the tolling system, the Tajik Aluminum Company (TALCO) has been faced with unfavorable financial situation and the company is currently losing $100.00 from production of each ton of the tolling aluminum, says a report by the Ministry of Finance (MoF) on TALCO’s activities in 2010-2015 and the first half of…
For the past 6 years electricity debts of Tajikistan Aluminum Company valued at 261.6 million somoni have been written off. Even though the company receives electricity at low tariffs. Because of the untimely payment for electricity in H1 TALCO’s debts reached 468.4 million somoni. The company consumes some 30% of Tajikistan-produced electricity every year. In…
EurasiaNet.org reported on July 28 that the Tajik Aluminum Company (TALCO) continued losing money despite production at the aluminum smelter being on the increase. The Ministry of Finance (MoF) reportedly links the losses to falling metal prices on the international market and the rise in cost for inputs. The MoF said that at the end…
Glencore International AG (Glencore) plans to supply 200 thousand tons of alumina to Tajikistan for the Tajik Aluminum Company (TALCO) this year, according to the TALCO press service. On April 19, visiting CEO at Glencore International AG, Mr. Ivan Glasenberg, reportedly met here with senior representatives of TALCO. The two sides reportedly discussed prospects of…
