On Saturday morning, a cargo ship coming from Russia, carrying 34,000 tons of coal, docked at the Algerian port of Annaba.
According to the Kedr plant, this batch will be followed by another shipment in the coming hours, estimated at more than 17,000 tons.
The statement stated that this important transaction, which was overseen by the management of the Imital complex, on its own allowed the Hajar complex, which had been in great financial difficulties for some time, to restart the blast furnace. and enter production.
The deal is considered a major turning point in the difficult circumstances the institution is going through, which has brought hope back to the entire blast furnace team.
The deal also comes amid inflated global coal prices, which topped $840 a tonne in light of the Ukrainian crisis.
Emmetal, thanks to its long experience, was able to win this important deal with the giant Russian supplier BLACKRABBIT DMCC at a very competitive price, estimated at 600 US dollars per ton compared to other prices that exceeded 800 US dollars per ton, and this is a huge profit.
The complex said that the deal with 18,534 tons of coal from a Russian supplier at the end of July last year and after laboratory and technical experiments proved its compliance with internationally recognized physical and chemical standards in this area.
The Russian supplier was able to supply coal after meeting all the technical and financial conditions stipulated in the tender and offering competitive prices on the international market compared to other suppliers participating in the tender.
The agreement came with special facilitation terms, in particular in terms of payment terms for coal by simply transferring financial balances, in addition to benefiting from a significant price difference between them and other competitors.
This important transaction, in addition to its economic importance, saved $15 million.
This important deal also strengthened Algeria’s relationship with Russia in a volatile competitive market.
Source: Al-Nahar newspaper, Algeria.