The members of the Aluminium Association were included in the Strategic list approved by the Government Commission. The strategic status was obtained by the representatives of the cable industry – Moskabelmet Group of Companies, Kamsky Kabel and Uncomtech Management Company.
The list approved by the Government Commission for Economic Development included 246 companies in the sphere of competence of the Ministry of Industry and Trade of Russia. These companies were selected from 15 industries, including power engineering, electrical and cable industries. The Russian Ministry of Industry and Trade of Russia established a mechanism based on the State Industry Information System in order to monitor the status of all the companies from the list. Such monitoring will ensure timely response to emergencies.
Pavel Moryakov, Head of the Energy Sector at the Aluminium Association (General Director of Moskabelmet), stressed the importance of including cable companies in the strategic list. He mentioned that strategic companies could apply for preferential loans to replenish working capital at an interest rate equal to the key rate of the Bank of Russia. Half of the loan will be secured by the guarantees of the Russian Ministry of Finance. "Today, more than ever, companies and entire industries need government support. Cable plants are now in a difficult situation due to a lack of orders. We need a working capital replenishment mechanism. This may be interest-free loans to pay salaries, the abolition of some taxes and other measures." Pavel Moryakov also noted the important role of the Aluminium Association in developing a consolidated position of the professional community and preparing a proposal to expand support measures.