Russia’s Mechel preparing documents to ask for state aid

MOSCOW, Feb 24 (PRIME) -- Russian debt-ridden metals and mining group Mechel is preparing documents to ask the government for help under an anti-crisis plan, a representative for the company told PRIME Tuesday.

“Mechel is preparing the documents,” the representative said.

On February 9, the company was included on the list of 199 systemically important companies, which may receive state support under the anti-crisis plan.

Mechel has been in fruitless debt restructuring talks with its core creditors – Sberbank, Gazprombank and VTB Bank, for several months. The company’s total debt amounted to U.S. $7 billion as of December 1, according to Vedomosti business daily.

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