Donetskstal takes a loan of $ 40 million for the completion

As the chairman of the Donetsk regional state administration Andrei Shishatsky, the Donetsk electrometallurgical plant Donetskstal will take 40 million dollars to complete the first stage of reconstruction, said at a meeting today with the Donbass journalists. This is written by the news of Donbass.

The money will be aimed at completing the construction of an electric stove, which will significantly reduce harmful emissions into the environment and make more competitive products of Donetsk metallurgists in domestic and world markets, the newspaper writes.

The unnamed banking institution has already confirmed the Donetskstal -Metallurgical Plant PROO to provide a loan in the form of a credit line, as announced at a meeting on the promising development of the enterprise, which took place in the Donetsk Regional State Administration last week with the participation of representatives of Siemens.

The stove will be launched by the City of Donetsk. At least such hope was expressed by Andrei Shishatsky. According to him, the completion of the first stage of reconstruction and the beginning of the second will reduce the consumption of expensive imported natural gas in the production of products 11 times, which will significantly strengthen the position of the Donetsk company in the global metal production market by reducing the cost of production.

“The implementation of the second stage of reconstruction will become a worthy continuation of the history of the Donetsk Metallurgical Plant, from which the city of Donetsk began its development,” said the chairman of the Donetsk Regional State Administration.

As you know, 100% of the shares of PRO Donetskstal - Metallurgical Plant belongs to the Cyprus company Fintest Trade Co limited. Recall that Cyprus today is experiencing the next round of the banking crisis and the decision of its Central Bank is frozen all banking operations in the country, at least to Wednesday, when the provision on the payment of about 10% of the tax on local banks enters its legal force.

President of Cyprus Nikos Anastasiades, turning on television to the nation, said that the tax deposit tax causing wide indignation was an alternative to bankruptcy.

“I chose the least painful option in the current conditions, I understand what political price it will be necessary to pay for it,” said the President of Cyprus.