Last year the Nevinnomyssk-based StavStal unexpectedly became insolvent.
“StavStal was created in 2011. It was working perfectly, but it did not return its debts to Sberbank. The bank demanded payment, but the company did not have enough funds. At first we attracted an Indian investor. They invested $5 million, but did not get anything in return. Then we found a good investor from Lugansk region. And now the company is working and even intends to double output”, the Stavropol region governor Vladimir Vladimirov reported.
A new blast furnace is planned to be built at StavStal. (Ukrainian metal)
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