23 March 2009 15:31 [Source: ICIS news]
MOSCOW (ICIS news)--A Russian electricity supply company has filed an insolvency suit against the state-controlled Khimprom Volgograd chemical plant over the latter’s alleged unpaid bills, according to a statement from a local arbitration court released on Monday.
On 20 March, local power distribution company Volgogradenergo, at the request of electricity supplier Nizhnevatomenergosbyt, partially cut electricity supplies to Khimprom over outstanding bills that Nizhnevatomenergosbyt claimed amounted to roubles (Rb) 757m ($22.6m, €16.7m), according to the statement.
Khimprom has faced financial problems in recent years. The Russian government, which has a 51% stake in the company, has been struggling to privatise Khimprom.
($1 = Rb33.50/€1 = Rb45.44)
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