KARELSKY OKATYSH
October 1st, 2003
BY KEITH NUTHALLRUSSIAN iron pellet maker Karelsky Okatysh is likely to receive a US$60 million loan from the European Bank for Reconstruction and Development (EBRD) to refinance short-term indebtedness and improve the standard of its machinery.The money would pay for the "maintenance, modernisation and upgrade (increased efficiency)" of existing plant, said an EBRD note, which added that the debt relief would help the restructuring of Karelsky. This would involve it "divesting non-core assets" and "focusing on its core business." The bank said the loan would ...
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