The debt of the Zaporizhzhya aluminum plant exceeded 5.5 billion hryvnia

Due to the debt of more than 5 billion hryvnia, the unique for Ukraine Zaporizhzhya Aluminum Smelter (ZALK) was on the verge of bankruptcy. This was announced in an exclusive commentary to the Pravda news agency by the acting director of ZALK, Ivan Lishchuk.

“The debt is already more than 5, 5 billion hryvnia,” he said.

It is noted that over the period of the investment activity of the Russian company RUSAL, the debt of ZALK has grown exponentially and since 2001, the enterprise with a positive balance has turned into a hopeless debtor.

“An enterprise can get out of this situation in two ways: either go bankrupt and write off these debts, or try to negotiate and schedule this pleasure in installments: launch production and slowly return it,” Lishchuk said.

In addition, the chairman of the State Property Fund Igor Belous noted that the enterprise could go bankrupt if the debts were not repaid.

“We will not be able to pay off, there is bankruptcy and complete liquidation ahead,” said the chairman of the SPFU.

At the same time, Russian shareholders, who own almost 30 percent of the enterprise through Cypriot companies, are trying to sue ZALK for investment funds in the amount of $ 39 million.

While the trials continue, the cases of the export of property have become more frequent at the plant, - the Security Service of Ukraine reported. At the request of IA Pravda, the SBU reported that equipment worth 100 million hryvnias had already been removed from the plant. In addition, the Security Service of Ukraine opened a criminal case on the fact of sabotage (Article 113 of the Criminal Code) and abuse of office (Article 364 of the Criminal Code).

Currently, the aluminum production capacities at the plant are mothballed, primary aluminum is not produced. In addition, in recent years ZALK has liquidated alumina production and ceased production of alumina. In July 2014, the plant stopped producing aluminum wire rod from imported Russian raw materials.

Until 2008, ZALK produced about 100 thousand tons of aluminum per year. The last time aluminum was produced here was in 2011.