Evraz doesn’t plan to sell assets in 2017

Nadezhda Ivanova's picture

Evraz doesn’t plan to sell assets in 2017, the company’s general director Alexander Frolov reported during the conference call.

"We don’t consider any major sales in 2017. Over the past few years we have actually got rid of all assets, of which we wanted to get rid – these were was mainly production assets with high prime cost of iron ore. Today we have no some concrete plans," - said Frolov.

Evraz implements deal on the sale of a stake in South African vanadium company Vametco, everything is going according to the schedule, agreed in mid-2016, Frolov said. Evraz agreed to sell its 59% stake to South African Bushveld Minerals, the Kommersant reported.

The project of rolling plant South Mill in the Rostov region is frozen, said Frolov. "We believe that in the today's market conditions there is too much competition in the product, for which this mill was designed. We need some time to wait and see what will be the market dynamics; in the case of the growth of the long products consumption in general and in the southern regions in particular, I think, we will be able to once again return to this project,"- he said.

Evraz considers proposals for the sale of a stevedoring company in the port of Nakhodka Evraz NMTP. "If we get some good offer that we like from a financial point of view and from the point of view of preserving the possibility of handling our goods, we will be constructive to the proposal and, perhaps, there will be some results," - said Frolov.



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