November 20, 2008

MMK to increase investments in 2008

According to Mr Valentin Antonyuk director for Capital Construction and Investments of OAO Magnitogorsk Iron and Steel Works Magnitogorsk Iron and Steel Works is expected to increase investment in the construction of new facilities 2.2 times from some RUB 24 billion in 2007 to RUB 53 billion this year.

He said that investment in the building of new facilities was projected to exceed RUB 60 billion in 2009, although the figure had yet to be approved.