Amurmetall exempted from taxation, though it cannot help the plant resume its work

The Khabarovsk authorities have claimed, they exempted the idle plant Amurmetall from taxes at the amount of about 1 billion RUR. They believe, this can help resume  production. Though, the debt of the enterprise makes up 27 billion RUR and it has no money for raw materials, some sources say. Besides, the 2.2 billion RUR credit from VEB which owns the plant got hung up due to lack of the plan of Amurmetall's development and the creditors insisting on bankruptcy proceedings.

On July 8th, Amurmetall (the only ferrous metallurgical enterprise in the Far East) resumes its production,the temporary acting Governor of the Khabarovsk Territory, Vyacheslav Shport claimed. As he had reported, local authorities exempted the plant from taxes at the amount of about 1 billion RUR which Amurmetall can use as working capital. The Territory “hopes to regain this sum later due to the profit tax when the enterprise stars working”, the official said