Ukraine's Metinvest to repay debt to DLRR in installments

• Published date: 20 July 2022
• Publication title: LETA

RIGA, July 20 (LETA) - Ukrainian company Metinvest will repay its debt to Latvian locomotive repair company Daugavpils Lokomotivju Remonta Rupnica (DLRR) in several installments and has already made the first payment of EUR 900,000, LETA was told at DLRR.

ccording to the company's representatives, DLRR is now waiting for the next installment of EUR 1.3 million to be transferred to its account.

DLRR representatives also indicated that previously receiving payments from Metinvest had been impossible due to Russia's invasion of Ukraine and the situation severely affected the Latvian company's operations.

ccording to the DLRR representatives, Ukrainian authorities have made an exception for Metinvest and allowed it to pay off the debt to DLRR. This is the only trans-border payment Metinvest is permitted to make.

"In providing such permission, the Ukrainian government has asserted the significance of DLRR for the Ukrainian economy and logistics sector, because without DLRR, transportation of Ukraine's rail freight and post-war reconstruction of the country's railway infrastructure will not be possible," said DLRR supervisory board chairperson Anastasija Udalova.

s reported, at the beginning of May, Ukrainian Infrastructure Minister Oleksandr Kubrakov sent a letter to Latvian Transport Minister Talis Linkaits (Conservatives) stating that "DLRR's experience accumulated over the years, unique operations and ability to provide a full range of services will be crucial in rebuilding Ukraine's railroad infrastructure after the war."

Management of DLRR's partner, Ukrainian company Metinvest, also sent an official letter to the Cabinet of Ministers of Latvia, pointing to the strategic importance of DLRR in reconstruction of the damaged rail infrastructure and equipment of Ukraine.

In his letter, Kubrakov points out that there are targeted attacks on Ukrainian railroads and infrastructure. The letter says that Ukraine's ability to repair rolling stock and locomotives is limited, as Ukrainian plants and other strategic facilities are regularly threatened by explosions and targeted attacks.

In his letter, Kubrakov says he hopes for cooperation with countries...