The operative management of Kremikovtzi, Bulgaria's biggest steelmaker, has warned that the plant may shut down before the end of this November if no new investor is found.
The syndics of Kremikovtzi are reported to be currently holding negotiations with potential investors.
The emergency situation at Kremikovtzi was brought about around two weeks ago when Ukrainian company Vorskla Steel Bulgaria decided to cancel its raw material supply agreement with Kremikovtzi, which resulted in the shutdown of two of its blast furnaces due to the severe shortage of coal.
According to the Bulgarian Economy Ministry, the Smart Group company, which is the owner of another Bulgarian steelmaker ProMet (located close to the Black Sea city of Burgas), is a suitor for Kremikovtzi.