Akmenes Cementas warns of increase of tax on imported coal in Lithuania

Arturas Zaremba, the head of Akmenes Cementas, has warned that government proposals to increase the import tax on coal in 2024 and the abolition of subsidies for the fuel will affect the company. The country’s parliament is also proposing scaling the import tax based on a CO2 scale, according to the Baltic Business Daily newspaper. Zaremba said that the cement producer uses 130,000t/yr of coal. However, it is currently investing Euro22m on an upgrade to its Akmenes integrated plant to allow it to switch to using a higher proportion of solid-recovered fuel. It currently has a 10% alternative fuels substitution rate using dried sewage sludge and tyres.

Zaremba said “There will be some impact because we will still have some of that coal left, but not as much as we would have had without the investment. I have not followed how much they plan to increase the excise duty, but we need to look into how much that would be in the financial terms. Any increase has an impact.”