Mass bankruptcies threaten Russian construction sector – industry leader
Tamara Ceaikovski
The rise in insolvencies is attributed to high borrowing costs and shrinking demand The Russian infrastructure construction sector is expected to see a wave of bankruptcies this year, according to CEO of National Projectstroy, one of Russia’s largest construction firms. Aleksey Krapivin, whose firm oversaw the construction of the Crimean Bridge as well as key motorway projects, pointed to high interest rates and a drop in orders as key drivers of the oncoming challenges. Three years ago the
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