Dneprovsky Metallurgical Plant (DMK, Kamenskoe), which is part of the Industrial Union of Donbass (ISD) corporation, has begun to settle accounts with the Dutch holding Metinvest B.V. (Metinvest) Ukrainian billionaires Rinat Akhmetov and Vadim Novinsky for the supplied iron ore raw materials with square billets and long rolled steel.
As the executive director of ISD Maxim Zavgorodniy told Interfax-Ukraine on Monday, DMK sends only a part of its products to the barter deal.
"There is a complex scheme of offsets to pay off debts. After the DMK is settled, the company will independently sell all the products manufactured by the enterprise," the agency's interlocutor explained.
However, he did not specify for what period it is planned to pay off the debt.
“It depends on many factors, first of all, on the market situation,” summed up M. Zavgorodniy.
According to the preliminary unaudited consolidated results of the company's financial statements in accordance with IFRS, released by Metinvest on October 27, in August the company, in particular, resold 55 thousand tons of square billets for $ 26 million and 14 thousand tons of long products for $ 8 million.
Barter debt repayment schemes are reviving in Ukraine
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Azovpromstal® 30 October 2017 г. 21:27 |
