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The company could resume its operations at the beginning of 2015.

KVV Liepajas metalurgs board member Igors Kovalenko said in an interview with "Panorama" that January could be the closest month when an agreement on semi-finished manufactures will be signed. Meanwhile, the electric melting complex could be set in motion at the end of February or the beginning of March.

As reported, the Ukrainian company KVV Group won the Liepajas metalurgs tender and the right to acquire the metallurgical plant for EUR 107 million.

KVV Group said it intended to invest a further EUR 30 million into Liepajas metalurgs and resume production already this year.

Calculations indicate that the state will be able to retrieve all budget funds that were invested in Liepajas metalurgs, including security payments and maintenance costs. The state has already retrieved a total of EUR 768,000.