Oligarch Akhmetov’s Zaporizhzhia factories mothballed

2 March, 07:38 PM
Metinvest co-owners oligarchs Vadym Novinsky and Rinat Akhmetov (Photo:Metinvest)

Metinvest co-owners oligarchs Vadym Novinsky and Rinat Akhmetov (Photo:Metinvest)

Due to the tense military situation in Zaporizhzhia oblast, Rinat Akhmetov’s Metinvest holding group is temporarily mothballing two of its plants, Zaporozhstal and Zaporozhkoks, the company announced on March 2.

According to the statement, Zaporozhstal finished a cycle of pig iron and steel production before being brought to a stop. Operations of its smelting, alloy, rolling, and other auxiliary facilities have also been suspended.

Zaporozhkoks is similarly pausing its coke production. Energy production and chemical facilities are winding down, while auxiliary facilities are being shut down.

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“These companies won’t have any redundancies; payroll and benefits will be kept in full,” Metinvest’s message reads.

The company said that further military developments would determine when these factories will be brought back online.

On March 1, Metinvest notified its clients and partners of the extraordinary conditions it operates under.

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