Notice: curl_setopt(): CURLOPT_SSL_VERIFYHOST no longer accepts the value 1, value 2 will be used instead in /home/admin/web/ on line 101
Do not agree on debt restructuring RAO ES East and Amurmetal - EastRussia | Far East






This text is translated into Russian by google automatic human level neural machine.
EastRussia is not responsible for any mistakes in the translated text. Sorry for the inconvinience.
Please refer to the text in Russian as a source.

We did not agree on the restructuring of the debt of RAO ES of the East and Amurmetal

Negotiations with OJSC Amurmetal (Komsomolsk-on-Amur, the only ferrous metallurgy enterprise in the Far East) to conclude an agreement on restructuring the debt for the supplied electricity continues to PJSC RAO ES Vostok (part of the RusHydro group)

We did not agree on the restructuring of the debt of RAO ES of the East and Amurmetal
This is reported by the press service of the energy holding.

"RAO ES of the East" 6 June said that it had given the plant 14 days to prepare and conclude a restructuring agreement.
"While it was not possible to agree with the debtor, negotiations continue," the press service explained.

Earlier it was reported that "RAO ES of the East" is ready to terminate the contract for the supply of electricity with the metal plant in connection with the debt in the amount of more than 325 million rubles.

The management of RAO ES of the East repeatedly offered the bankrupt factory a series of measures to liquidate the debt, but the reciprocal steps of the bankruptcy trustee, creditors and potential buyers did not follow.

The payment situation of JSC Amurmetall, which has been going through bankruptcy procedures since October 2013, began to deteriorate in December last year, when the power industry lost less than 70 million rubles for the energy consumed. Amurmetal continued to accumulate receivables during 2016, with the result that by June 1 its level will exceed 325 million rubles.

OJSC Amurmetal in 2015 reduced steel production by 14,9% compared to the level of 2014 year - to 538 thousand tons, increased net loss under RAS by 75% to 3,603 billion rubles. Accounts payable increased from 30,968 billion rubles to 33,498 billion rubles, accounts receivable - decreased by 49%, to 614,953 million rubles.

The register of creditors of "Amurmetal" on 1 April 2015 year consisted of 262 companies and individuals, the total amount of debt - 26,393 billion rubles.

Among the major lenders are Vnesheconombank, Sberbank, Gazprombank and Raiffeisenbank, Interfax notes.

"RAO ES of the East" manages the electric power industry of the Far East. The main shareholder is PJSC RusHydro.