Yushchenko Asks Government to Ease Electricity Costs for Zaporizhya Aluminum

Last week President Yushchenko asked the government to consider decreasing electricity prices for Zaporizhya Aluminum. At the same time, in interview with local news agency Industrialnoye Zaporozhye, Zaporizhya Aluminum’s (ZALK: HOLD) CEO, Alexander Kotyuk said that the company’s three most important goals are: lobbying for lower electricity tariffs, modernization of production facilities and implementation of ecologically-viable equipment. Andriy Gerus: We think the company has a good chance of achieving preferable electricity tariffs. If tariffs decrease, the company would substantially increase its profitability as electricity makes up more than 50% of its cost structure.