Ukrainian billionaire Konstantin Zhevago paid another unscheduled visit to Bulgaria on August 29 to meet executives from Bulgarian steel mill Kremikovtzi, which he is targeting for acquisition.

At the meeting, Zhevago reportedly vowed to whip the debt-ridden company into shape in three years, preserving the production assets and securing an integrated pollution prevention and control permit, sources told Dnevnik.

The same sources said Zhevago was not happy with the state of the assets, but promised to provide the necessary investments. No statement for the media was released in connection with Zhevago's visit to Sofia.

Zhevago-controlled Vorskla Steel has become eligible to enter the management bodies of the Bulgarian steel mill in pursuance of a sub-contracting agreement.

The agreement allowed for the resumption of gas supplies to the plant with the aim of raising monthly output to 60 000 tons and then to 100 000 tons.

Read the full story on Dnevnik.bg