Economy 2023-09-15T04:44:08+03:00
Ukrainian news
Pobuzhsky Ferronickel Plant Suspends Production Due To Limited Electricity Supply

Pobuzhsky Ferronickel Plant Suspends Production Due To Limited Electricity Supply

Pobuzhsky Ferronickel Plant

The Pobuzhsky Ferronickel Plant (PFP, Kirovograd region) has suspended production due to limited electricity supply.

This is stated in the message of the plant, Ukrainian News Agency reports.

"On October 22, the Russian military launched 3 missile attacks on an energy facility that provided power to the PFC, as well as a number of settlements in the Kirovohrad and Mykolaiv regions, including a water intake station on the Pivdennyi Buh River (Dovha Prystan, 35 kV). As a result of the power cutoff, the metallurgical process and water intake were stopped at the PFC. The PFC received significant economic losses, and production was forced to stop until the corresponding restoration of the state substation and the necessary repair work of the main equipment... Currently, the power supply has been restored, but it is very unstable and barely enough for the needs of the population," it says.

It is noted that due to the inability to conduct the production process from November 1, the enterprise is forced to suspend the main production activity.

"Since the beginning of the military aggression against Ukraine, the PFC has worked with losses due to high energy costs, logistical obstacles, lack of raw materials, and has been subsidized by its Swiss investor Solway Investment Group, trying to fulfill its obligations to workers and the community as much as possible. Given the forced decrease in production by more than half, for the 9 months of this year, the total volume of processed raw materials amounted to 0.643 million tons (62.8% compared to the results of 9 months of 2021), which corresponds to 42,299 tons of ferronickel (77.5% compared to the results of 9 months of 2021) or 7,400 tons of nickel (63.5% compared to the results of 9 months of 2021)," the statement said.

It is noted that for the specified reporting period, the plant paid taxes to the budget of Ukraine in the amount of UAH 113.8 million, which is 7.9% more than for 9 months of 2021.

At the same time, despite the decrease in production capacity with the beginning of the full-scale armed aggression of the Russian Federation against Ukraine, wages and social benefits were kept in full.

As Ukrainian News Agency earlier reported, the Pobuzhsky Ferronickel Plant provides services for the processing of customer-supplied nickel raw materials, produces ferronickel, solid electric furnace and granulated slag.

Ferronickel produced is sold in Ukraine and abroad.

PFP's investor is Solway Investment Group.

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