China Minmetals Corporation subsidiary has asked the Arbitrary court of Chelyabinsk region to recover the debt from Chelyabinsk Iron and Steel Works under the contract to construct the rail and beam mill.
The Chinese company is claiming $16.69 million and interest.
At the same time ChMK has filed a counter claim because of the bad quality of work ($68 million).
The contract to construct the mill with the capacity of 1.1 million tons per year was concluded in 2008. The construction had to be finished in 2010, but the mill was only commissioned in 2013, while the cost of the construction grew from $300 million to $715 million. (Ukrainian metal)
