If Igor Šamiz, owner of the company 8B Capital, fails to pay €250,000 to the Electric Power Company of Montenegro (EPCG) and commit to settling the remaining debt in installments, the lease agreement for the Nikšić steel plant will be definitively terminated.
This was unofficially confirmed to Dan by several sources close to EPCG and the Ministry of Energy. The deadline for payment is today.
According to the sources, Šamiz held a meeting early last week with EPCG CEO Ivan Bulatović and Energy Minister Admir Šahmanović, during which a preliminary verbal agreement was reached. Šamiz was expected to pay €250,000 by July 16, sign a written commitment to repay the rest in installments, transfer ownership of equipment he had ordered from Ukraine to EPCG as collateral, and provide guarantees that production would start by January 1.
EPCG and the Ministry of Energy had hoped Šamiz would make the €250,000 payment by Friday, July 11, so that talks could resume after the holiday and possibly lead to the signing of an annex to the contract, giving him a second chance.
However, since the payment was not made by Friday, neither EPCG nor the Ministry is optimistic that he will meet the deadline today.
Since leasing the Željezara plant—specifically the Steel Mill and Forging Facility—at the end of last year, Šamiz reportedly brought in numerous potential investors and partners, but none showed interest in engaging in steel production.
By mid-July, Šamiz was supposed to have paid between €650,000 and €700,000 for leasing the facilities and for the worker leasing costs from October to May, when EPCG unilaterally terminated the contract.
The 50-year lease agreement with Šamiz was signed last year in the presence of then Energy Minister Saša Mujović and senior EPCG officials. Since signing the deal on September 25, Šamiz was obligated to pay monthly rent of €31,000 but has only paid two installments.
Following the initial termination notice from EPCG, Šamiz transferred €40,000 to the company. In total, he has paid approximately €100,000, while still owing between €650,000 and €700,000.
