The Rovno commercial court of appeals has cancelled the ruling of the Commercial court of the Volyn region dated February 21, which initiated the bankruptcy of the state-run Volynugol. The state enterprise has been in the process of going bankrupt since March 2. The appeal on the bankruptcy ruling was filed by the Ministry of…
The Commercial court of the Volyn region has initiated the bankruptcy procedure of the state enterprise Volynugol. The procedure started on March 2. The insolvency case was opened following the claim of the state enterprise Regional Power Grid, which itself has been in the bankruptcy procedure since December 7, 2015. The debt of Volynugol to…
In 2016 the state enterprise Volynugol had to mine 310 thousand tons of coal. The enterprise mined 185.4 thousand tons, or 59.8% of the plan. At the end of the year average daily output improved, in particular to 622 tons, up by 108.88 tons QoQ. This year the target for the enterprise is 391 thousand…
The Verkhovnaya Rada of Ukraine has provided for 150 million UAH in the state budget-2017 for the construction of Novovolynskaya mine No. 10 (Volynugol). 20 million UAH were expected to be given for construction, but then the amount was increased by 130 million UAH. The money will be provided by decreasing support to state mines.…
On October 26, the chairman of the Volyn regional state administration Vladimir Gunchik had a phone conversation with the minister of energy and coal industry Igor Nasalik on the Volynugol situation, Novovolynskaya mine No. 10 construction and salary debts to miners. The parties have reached the agreement that by the end of the week 100%…
The new director of Volynugol Alexander Zorin could reorganize the enterprise, according to the Volyn regional state administration (RSA) chairman Vladimir Gunchik. He said Zorin had to prepare the reorganization plan by October 10-11. Then it will have to be approved of at Novovolynsk city council, Volyn RSA and the Ministry of energy and coal…
Novovolynskaya Mine No. 10 will receive 2.5 million UAH to clear salary debts. According to the regional state administration head Vladimir Gunchik, the mine has some 4 million UAH on its accounts, but this money should be spent to buy catch gear, otherwise the State mining service could stop the operation of the mine. Miners…
The Cabinet of Ministers allowed the privatization of the Buzhanskaya mine, a part of Volynugol. The corresponding decision has been stated in the decree of July 22. For the past three years the mine has been profitless. Its accounts receivable for 2015 total 82.42 million UAH, in particular, 56.36 million UAH to the state budget…