11:04 26.05.2015

Metinvest stands for adoption of special program on restoration of Avdiyivka shelled by militants

2 min read
Metinvest stands for adoption of special program on restoration of Avdiyivka shelled by militants

The largest mining and metal holding of Ukraine Metinvest supports the adoption of a special program on the restoration of Avdiyivka town in Donetsk region destroyed after shelling by militants, Metinvest Holding CEO Yuriy Ryzhenkov said on Monday.

"Avdiyivka Coke-Chemical Plant helps to restore the town, although the town needs help of the state," he said.

He said that Avdiyivka Coke-Chemical Plant is the enterprise of the group that suffered from shelling most of all. He said that the group is doing its best to launch the enterprise as soon as possible, although it is unlikely that this will be done in the shortest terms.

Ryzhenkov also said that earlier Yenakiyeve Steel Works that suffered from shelling (Donetsk region) has been restored and now it is operating in the usual mode.

"The plant is working, but there are problems with delivery of raw materials and shipment of products. Now, we're trying to find a way of the situation [Yenakiyeve Steel Works is located on the government-uncontrolled territory]. The enterprise is working under Ukrainian law, and it should continue working," he said.

Ryzhenkov said that at present, Metinvest is working, producing goods and shipping them. The holding has orders for June, he said.

Logistics issues (due to the destruction of railway infrastructure) and value added tax (VAT) refunding are among problematic issues of the holding's enterprises.

Metinvest is a vertically integrated group of mining companies that manages assets in every link of the production chain, from iron ore and coke production to semi-finished and finished steel products and rolled metal piping, as well as the production of other goods with high added value.

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