The Krasnodarsky Krai Court of Arbitration has declared the Armavir Iron and Steel Works bankrupt. The supervision procedure is being implemented. The next court session following the results of procedure will be held on February 27, 2017.
Armavir Iron and Steel Works is the mini-mill project in Armavir. Its capacities should have reached 750 thousand tons of cast ingots and 500 thousand tons of rolled metal per year.
The Industrial Union of Donbass (Ukraine) intended to invest some 9.7 billion rubles into the works. But the construction was frozen in late 2013. After the military conflict in Ukraine the construction stopped altogether. (Ukrainian metal)
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