The Slovak government has signed a series of agreements aimed at restarting aluminum production at the Slovalco plant in Žiar nad Hronom while preserving jobs and supporting the company's long-term future.
Under the agreement, Slovalco has committed to resuming production, investing in modernization and decarbonization, and maintaining employment. In return, the state will provide compensation for indirect carbon emission costs, reduce contributions to the National Nuclear Fund, and help secure stable electricity supplies for up to ten years.
The electricity will be supplied by the state-owned company Vodohospodárska výstavba, although the price must cover production costs and include a reasonable profit. The agreement also prevents the company from reselling the electricity, limiting its use exclusively to aluminum production.
The government hopes partial production will resume in 2026, with full operations expected in 2027.
Slovalco halted primary aluminum production in 2022 because of soaring energy prices, with the last furnaces shutting down in early 2023.
Source: TASR
