Vostokcement Group warns of delay to infrastructure projects due to legal battle

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Russia: Vostokcement Group has warned both federal and regional government that its on-going legal troubles will delay infrastructure projects in the Far East district, including the Zvezda shipyard, Vostochny Port coal terminal, Sila Sibiri gas pipe and a bridge over the River Amur. It said it also might be unable to pay up to 5000 workers. The cement producer previously said that office of the Prosecutor General of Russia had seized the financial accounts at Spasskcement, Teploozersk Cement and other subsidiaries in relation to a civil legal case where the defendants are trying to recover Euro44.5m.

Last modified on 03 July 2019

URL: https://www.globalcement.com/news/item/9471-vostokcement-group-warns-of-delay-to-infrastructure-projects-due-to-legal-battle

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