GEMONT'S "DAUGHTER" IN RUSSIA BECAME BANKRUPT

A subsidiary of the Turkish construction company Gemont has received the status of bankruptcy. The decision on this was made by the arbitration of Tatarstan. The company, registered in Nizhnekamsk, has been transferred to bankruptcy proceedings for six months.

Gemont in Russia filed a claim for its insolvency in July 2022, TASS clarifies.

As Rusbankrot reported, the organization indicated the presence of uncovered obligations in the amount of 18.6 billion rubles.

In December 2022, the arbitration introduced a monitoring procedure in Gemont LLC. According to Rusbankrot, among the creditors of the firm were Nizhnekamskneftekhim (the structure of Sibur Holding), Irkutsk Polymer Plant, Gazpromavtomatization and the Federal Tax Service.

Gemont parent company was established in Turkey in 1990. The Turkish developer opened its division in Russia in 2014. Until recently, the organization successfully designed hydrotreating facilities, was engaged in the modernization of industrial complexes, took part in the construction of ethylene plants. The company built oil refineries commissioned by TAIF-NK, NPO Taneco and other large companies.

In early December, Nizhnekamskneftekhim filed a lawsuit against the Turkish Gemont. The "daughter" in Russia was indicated by a participant in the process. In March 2023, the arbitration of Tatarstan satisfied the requirements of the Sibur structure in the amount of $3.7 million.

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