SeeNews reported that Montenegrin state owned power utility company EPCG t will propose to shareholders to launch the process for the acquisition of steel mill Zeljezara Niksic from Turkey's Toscelik. The proposal is on the agenda of the extraordinary shareholders' meeting of EPCG, to be held on 3 OctoberLast month, Montenegro's Prime Minister Mr Dritan Abazovic said the government gave the go-ahead to EPCG to start talks for the acquisition of Zeljezara Niksic. He had said “EPCG commits to negotiate the sale price and the way to execute the acquisition of Zeljezara with the Turkish company.”Toscelik acquired Zeljezara Niksic in 2012 for EUR 15.1 million after placing the best bid in an auction launched by the government. Toscelik suspended production activities at Zeljezara Niksic in March 2021, due to a drop in orders caused by the coronavirus pandemic. Last year, the Turkish company said it is in talks for the sale of the steel mill.