The total debt of Russian Steel’s member companies is $34 billion
Edited by Rhod Mackenzie / 2014-11-13 01:30:42
Metals and mining Russia Metalloinvest Magnitogorsk metallurgic plant MMK Mechel Novolipetsk Steel NLMK Severstal TMK Pipes United Metallurgical Company (OMK) Russia Metals and Mining Iron ore Steel
Russian steel industry has been weakened by significant debt burden, vice president of the nonprofit partnership Russian Steel Igor Khoroshy reported at the meeting of the Coordinating Council on industrial policy in the metallurgical complex, chaired by the Russian Deputy Minister of Industry and Trade Sergey Tsyba.
According to the representative of Russian Steel, in 2013, the ratio of net debt to EBITDA of the member companies was 3.2, which is $34 billion in absolute terms.
