Azovstal and Ilyich Iron and Steel Works damage cost $11 billion, SCM says

The pre-war capitalization of the two plants in Mariupol reached $10 billion, $1 billion was the cost of raw materials and finished steel

Rinat Akhmetov, the biggest shareholder of the SCM group, estimates the damage from Russian aggression on Azovstal and Ilyich Iron and Steel Works of $11 billion, he said in an interview with Italian TV channel RAI, Interfax-Ukraine reports.

Pre-war capitalization of two plants in Mariupol, Azovstal and Ilyich Iron and Steel Works, was about $10 billion. In addition, the enterprises had raw materials and finished products worth $1 billion.

In total, the capitalization of the assets of the SCM group, destroyed and affected by Russian military aggression, hits $20 billion.

Avdiivka Coke Plant, Luhansk thermal power plant and 10 other industrial infrastructure and green energy facilities were affected by the full-scale Russian invasion. The pre-war capitalization of these assets was estimated at $9 billion.

“We will certainly file a claim against the Russian Federation demanding compensation for all losses caused by Russian military aggression. Mariupol can only be restored under Ukrainian control. There are no other options for me. No SCM business will ever operate under Russian control,” Rinat Akhmetov added.

Earlier GMK Center reported that Metinvest group was preparing lawsuits against Russia for the destruction of Azovstal and Ilyich Iron and Steel Works. The estimated amount of lawsuits was $10 billion.