British company "Montenegro Specialty Steels" to invest 60m EUR in Nikšić-based "Željezara"

British company "Montenegro Specialty Steels" (MNSS) is negotiating with the leading west-European companies about investments worth about 60m EUR for procurement of strategic equipment for Nikšić-based Forge.

- We are negotiating with the west European companies, which are among the leaders in that field, about investments in procurement of, among the rest, new furnace and furnace equipment - said president of the Board of Manager of Nikšić-based company, Radomir Vukčević.

He added that MNSS had provided 20m EUR for investments in 2008 and that 14m EUR deposited for last-year investments had not been spent because - it was physically impossible.

Production in Forge, according to the words of Vukčević, goes as planned, but people in the company are not satisfied with its level and with the sale of special steels. Forge should, as he said, produce about 100,000 tons of special steels in 2008, which is three times more than in 2007.

Nikšić-based factory plans to export special steels to the markets of Italy, Switzerland and Germany, and opening of the market in western Europe, first of all, in Italy, is in the pipeline.