04 августа 200809:11
MMK to invest $2bn in capital development in 2008
This year, Magnitogorsk Iron & Steel Works (MMK) intends to invest over $2bn in capital development. MMK’s BOD Chairman Viktor Rashnikov says this amount is comparable with the sum invested by the enterprise over a whole decade, that is, between 1996 and 2005. Besides, the two-billion-dollar figure comes to twice the amount directed to the company’s capital development last year. This large-scale investment is expected to result in greater production output, a wider range of products, better quality of produce, a bigger share of high-level processing goods, fewer material resource