Most of the company’s receivables stem from bills left unpaid by thermal power producers. SNLO is not subsidized by the state, Burlan told a news conference.
The company official added that SNLO posted a pretax profit of RON30 million in 2010, and it has a gross profit of RON40 million after the first seven months of the year.
In addition, the company has a production cost of RON56-58 per ton, and it sells the lignite to electricity producers at the same price.
“We have not increased the sale price since 2007,” Burlan said. (EUR1=RON4.2325)