The financial situation of the MSW processing and disposal operator Citymatic JSC is deteriorating
Shareholders of the MSW processing and disposal operator Citymatic JSC held an extraordinary meeting, during which they made important decisions related to the pledge of property and funds in the company’s accounts.
Thus, the shareholders agreed on the pledge of rights under the contract for the provision of services for the treatment and disposal of MSW, concluded with JSC Ugra-Ecology in 2022. In this case, the party to whom the rights will be pledged is not disclosed.
Pledge agreements for the company’s account opened with Gazprombank will also be concluded. In addition, the shareholders agreed to write off funds from Citimatika’s accounts in this bank. This company operates a landfill in the Nefteyugansk region. It was built under a concession with the county government. However, public activists and environmental agencies had many questions about this landfill. Citymatic was completely accused of polluting the land.
Last summer, the company signed a new loan agreement with PPK REO, Gazprombank and VEB. Citymatic will receive 11.3 billion rubles. The company is obliged to return this money by the end of 2034. And subsidiaries of Citymatika acted as guarantors for the loans. Among them are Citymatic-Yugra and Citymatic-Nizhny Novgorod. In the event of an emergency, they will be liable to creditors with their own property. It is possible that in the future it will be the banks that will receive the rights to the landfill in the Nefteyugansk region.
