ProjectFinance magazine declared the agreement on financing the construction of MMK Atakaş the Deal of the Year.

The magazine says that, although many metallurgical projects had to be cancelled or put off last year, the sponsors of this one – the Russian Magnitogorsk Iron & Steel Works (MMK) and the Turkish Atakaş concentrated all their efforts on implementing the project. What is more, the financing of MMK Atakaş was organized under quite advantageous terms, despite the global liquidity crisis at the time.

This agreement has a lot of symbolic importance for the metallurgical industry because it indicates the banks are willing to cooperate with reliable companies in spite of the current challenges on the financial and raw materials markets, the magazine reports.

Project Finance is one of Russia’s most dependable financial magazines that has been carrying features on the world’s most promising and well-organized deals for a few years now.