Elektroprivreda Crne Gore (EPCG) has officially signed a lease agreement with the Swiss company 8B Capital for the production facilities of the Nikšić Steelworks. The signing ceremony was attended by Energy Minister Saša Mujović, who expressed optimism that EPCG has chosen the right partner for this venture.
Mujović described the agreement as a significant milestone for Montenegro, stating, “Nikšić must regain its status as a steel-producing city.” Despite his enthusiasm, he also expressed caution due to less successful outcomes from previous privatizations of the steelworks, noting, “They did not meet our expectations.”
The Minister emphasized that his full satisfaction will come when the benefits of the agreement are realized by the steelworks’ employees.
EPCG’s Board Chairman, Milutin Đukanović, stated that this agreement represents the sole opportunity to restart steel production at the site. Đukanović highlighted that the lease will bring a substantial investment of nearly 37 million euros over the next five years. Executive Director Ivan Bulatović also expressed his satisfaction, noting that EPCG will retain ownership of its solar energy assets and continue developing solar power projects.
Igor Šamis, representing 8B Capital, acknowledged the importance and responsibility of the day, mentioning that the process took over seven months. He extended his thanks to Minister Mujović, whom he met for the first time during a visit to Nikšić eight months ago. Šamis stressed that significant work lies ahead for the steelworks and emphasized his 30 years of professional experience, promising to demonstrate his expertise in the project.
