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News: Bulgaria >> South-West region >> Sofia-city district >> Stolichna municipality >> Quarter of Kremikovtsi>> The state will require the liquidation of Kremikovtsi steelworks

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The state will require the liquidation of Kremikovtsi steelworks

Politics: Tuesday, 2009-08-25 02:00
Article by: StandartNews

The state will require the liquidation of Kremikovtsi steelworks, sources from the Bulgarian Ministry of Finance informed. The state will not back the revival package for the plant; the plan envisages creditors to convert the liabilities into shares and become shareholders of the steelworks.

The bond-holders plan cannot be executed because the capitalization of the state receivables of the state represented by Bulgargaz, the National Electrical Company and the State Railways will turn into an unapproved subsidy, commented the Ministry of Finance. Such an action would provoke a conflict with the European Commission...

Scope: Quarter of Kremikovtsi;
More: news Kremikovtsi steelworks;

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