Moscow Industrial Bank wants to declare the Krasniy Sulin Iron and Steel Works bankrupt.
The works owner Ramzan Isayev plans to invest 52 billion rubles in the rolling line with the capacity of 1.5 million tons of metal per year.
The investor owes the bank over 2.11 billion rubles, while the project is still in the “zero phase”.
At present Isayev is in jail for embezzling 27 million rubles. (Ukrainian metal)