Under the bankruptcy procedure the assets of Armavir Electrometallurgical Works LLC will be sold at an auction.
In particular, a site for steel manufacture will be sold.
The construction of the works has been carried out by the Industrial Union of Donbass since 2007. Investments were expected to hit 9 billion rubles, but the project stopped on the level of design works. AEMZ was considered bankrupt with debts amounting to 2.5 billion rubles.
The auction will take place on September 14.
The company assets are estimated at 276 million rubles. (Ukrainian metal)
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