South Korean steelmaker POSCO and Montenegro state-owned electric power distribution company Elektroprivreda Crne Gore (EPCG) have agreed to explore potential collaboration regarding the latter’s Zeljezara Niksic steel plant, according to a statement issued by the government of Montenegro. EPCG acquired the plant from Turkish steelmaker Tosyalı Holding’s Montenegro-based subsidiary Toscelik Special Steel last year, as SteelOrbis previously reported.
During the World Economic Forum in Switzerland, Milojko Spajić, prime minister of Montenegro, highlighted investment opportunities in the country. “Through planned reforms, we are improving the business climate to give a significant boost to our economy in collaboration with credible investors,” stated Spajić. He presented a development plan for Montenegro’s network of highways, railways and airports, and the Port of Bar. There is considerable interest from POSCO, considering the anticipated high demand for steel, accompanied by substantial investments, according to the government statement.