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NLMK sues central grid company for $296 mln

18:00 26/10/2011

MOSCOW, October 26 - RAPSI, Sergei Feklyunin. A commercial court will hear on December 16 an iron and steel works company's lawsuit against the central network company for $295 million, the court told the Russian Legal Information Agency (RAPSI).

The lawsuit was lodged on October 18.

The Novolipetsk Iron and Steel Works (NLMK) earlier confirmed the lawsuit filing, but declined to issue any further comments.

RAPSI has yet to reach for comments the defendant in the case - the Central Interregional Distribution Network Company.

NLMK is a world leader in steel production with a 2010 output of 11.5 million metric tons.

NLMK is listed on the RTS and MICEX stock exchanges and trades its GDRs on the London Stock Exchange. Its board chairman Vladimir Lisin holds 83.16 percent of NLMK's shares.

The Central Interregional Distribution Network Company comprises the regional grid companies of the Central Federal District. It services an area of 457,700 square kilometers and a population of 15.35 million.

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NLMK sues central grid company for $296 mln

18:00 26/10/2011 A commercial court will hear on December 16 an iron and steel works company's lawsuit against the central network company for $295 million.
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