Out of the additional budget, $2.13 million will go to investments already underway and the rest of $1.995 million will be aimed at two new projects related to primary and processed aluminum production units.
Another $1.31 million will be used for the completion of investments started last year.
After the first six months of this year, Alro was slightly behind schedule in terms of its meeting production targets for this year, with an output of 127,605 tons of primary aluminum, compared with the target of 265,270 tons, and 39,738 tons of processed aluminum, against a target of 84,233 tons.
On the Bucharest Stock Exchange, Alro stock reached a high of 1.7 lei/share in January, after the company sealed a EUR50 million funding agreement with EximBank. Alro shares now trade around RON1.2/share, against which the company’s capitalization stands at RON859 million.
(English version by Catalina Apostoiu)