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Tajikistan: State corporatize TALCO

20 January 2014

At the beginning of December 2013 decided to Tajikistan corporatized TALCO (Tajik Aluminum Company), which is the largest producer in Central Asia. Following the decision of the State management of the company for the first time in decades, he talked to the press, giving explanations of signs arose desire change. The main emphasis is placed on the desire to improve their image, especially in the eyes of the West. However, observers felt strong doubts about the fact that the state is configured to divide the foreign exchange earnings from other investors.

Commercial Director of TALCO, Kabirov Sheralisho, gave explanations of TALCO conversion into a corporation. According to him, the Western partners are experiencing confusion, encountering the phrase «unitary state enterprise», and that is why it was necessary to make the restructuring. However, the sale of shares is not planned.

Aluminum Company of such level is a general interest: 10 years ago, «Rusal» supported with TALCO very close contacts, but the parties subsequently broke all agreements. After that, when hit global prices for aluminum, «Rusal», referring to the decision of the Swiss arbitration court, tried to claim TALCO 275 million USD, on which the reply of TALCO readiness to continue the proceedings.

We can not say that the Tajik Aluminum Company has not suffered a decrease in demand for aluminum products. In 2013, she was forced to cut production by 12.5% ​​in annual terms. According Sadriddin Sharipov, managing director of the company, in less than 2013 Talco produced 218,523 t. Of metal. For comparison — in 2012 the figures showed 272,500 tons, and these data were less data 2011 to 1.8%.

Taking into account the results of the previous year, in 2014 TALCO expects metal production in the amount of 238,400 tons, which is less than in 2013 by 12.5%. At the same time an increase in production can not count. In the words of S. Kabirov, hardly any one company will allow to increase production itself, looking at the current prices for the products. Also TALCO Head, mindful of litigation with «Rusal», still hoped that a compromise is possible, because it does not wish to have arisen tensions with «Rusal» have a negative impact on the economic and political relations between Russia and Tajikistan.

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