Selenginskiy PCM CANoperate sably
Alexey Mishenin, Minister of Industry of Buryat Republic, explained that the situation at the Selenginskiy Pulp and Cardboard Mill (Selenginskiy PCM) was stabilized in 2015 – the production volume was doubled and a main technological risk stop enterprise was taken out.
Vyacheslav Nagovitsyn noted that the market situation is favorable for export for Selenginskiy PCM and brings good revenue to it. There is a reason to plan to pay the debts and to reach normal operation during one or two years. The company can solve a difficult situation on their own without new loans, abandoning the budget guarantees. “Before the end of the year there will be signed an agreement on debt restructuring with all banks. In February 2016 this will bring to Selenginskiy PCM to make payments both wages and taxes. Ministry of Industry and Trade of Buryat Republic monitors the situation including all enterprises from the list of creditors”, Alexey Mishenin said.