The authorities of Chelyabinsk region will not provide Chelyabinsk Pipe Works with state guaranties for the third time to cover its obligations to buy metal from Magnitogorsk Iron and Steel Works.
According to the regional ministry of finances the company has no necessity to get such a guarantee.
The regional state guarantee was granted to ChTPZ in summer of 2015 in the amount of 8 billion rubles for the purchase of sheet from MMK to produce pipes. The guarantee was granted for a year – till June 1, 2016, and then prolonged. (Ukrainian metal)
