Evgeny Kuivashev: Investors Still Interested in Russian Magnesium
30 January 2013 (09:28)
January 30, 2013. Sverdlovsk Region authorities still cannot find a new investor for Russian Magnesium, an ambitious investment project that is now on the brink of bankruptcy, Governor Evgeny Kuivashev told reporters in the course of a briefing.
Kuivashev reminded them that the project’s main weakness lay in the poor competitiveness of the production technology, as its cost was too high for the price at which magnesium is currently being sold at stock exchanges.
‘If the technology gets changed or an investor is found, the project will definitely be implemented,’ the Governor said.
According to Kuivashev, the region is not going to invest any budget money in the region, and finding an investor is taking a while.
Kuivashev reminded them that the project’s main weakness lay in the poor competitiveness of the production technology, as its cost was too high for the price at which magnesium is currently being sold at stock exchanges.
‘If the technology gets changed or an investor is found, the project will definitely be implemented,’ the Governor said.
According to Kuivashev, the region is not going to invest any budget money in the region, and finding an investor is taking a while.
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