Aluminum production in 2019 amounted to 100.8 thousand tons, which is 5.8 thousand tons more than in 2018, Talco OJSC said.
The company noted that last year the production process slowed down due to delays in the transit of railway cars and trucks through the territory of Turkmenistan, which were mainly engaged in the transportation of basic technological raw materials and other auxiliary materials for the production of primary aluminum.
The Parliament of Tajikistan adopted amendments to attract investment for the completion of the Rogun HPP and the development of TALCO. According to the source, the landslide on the eighth kilometer from the Akrabt railway station in Uzbekistan and the occurrence of force majeure due to an explosion at an ammunition depot in the city of Aris, located 131 km from the station’s crossroads, prevented the timely delivery of raw materials and necessary materials Saryagash (Kazakhstan).
“All of the above factors led to the fact that the plant was forced to shut off 90 electrolysis cells. Despite this, the company took all necessary practical measures to restore production and connect new electrolyzers,” the company emphasized.
About TALCO conversion
Starting from November 1, last year, the State unitary enterprise “Tajik Aluminum Company” was transformed into the “Tajik Aluminum Company” open joint stock company (OJSC) with a 100% state share.
The corresponding decree adopted by the government states that 100% of the shares of the subsidiary “Aluminsohtmon”, which is also being transformed into an open joint-stock company, will belong to TALCO.
The creation of legal entities is foreseen for the “Metallurg” shopping center, the “Shirkent” hotel complex, the “Kuran” holiday home and other facilities with a TALCO share of 100%.
“The transformation of TALCO into a joint stock company is an objective consequence of the situation for the company in the face of constantly increasing competitive risks in the global aluminum market,” the company emphasizes.
It is noted that the company experienced serious difficulties in attracting foreign investment, since unitary enterprises are a unique type of legal entity that is not found in the legislation of foreign countries.
“For enterprises of this type, the reputation of the “transitional form” has been established. In this context, the joint-stock company demonstrates to potential foreign investors an understandable form of legal and economic business management. Thus, the transformation of the Tajik aluminum company into a joint stock company opens up wider opportunities for it in terms of attracting foreign capital into its development,” they are convinced in the company.