The subject of the massive KAP aluminium works in Montenegro is always fascinating.

It is a huge plant by the standards of tiny Montenegro, hence its fortunes (or otherwise) weigh heavily on the local political mind. And because aluminium production requires colossal amounts of electricity, the problems of pushing that power to Montenegro from elsewhere in the region (including from and via Republika Srpska) are a rich source of interest.

Here is a good Guardian piece on the problems faced by Russian oligarch Oleg Deripaska in trying to make the grim KAP profitable:

Scarcely had the bubbles gone out of the champagne poured to celebrate the KAP deal than Deripaska’s people began to suspect they had been tricked … among other things, the Russians complained that they had been told the 2004 accounts were in order and that the firm contained working capital. Post-merger due diligence showed this was "largely incorrect or inaccurate", the spokesman said.

Montenegrins cheating Russians.

A bit hard to believe?